<SEC-DOCUMENT>0001140361-20-004308.txt : 20200227
<SEC-HEADER>0001140361-20-004308.hdr.sgml : 20200227
<ACCEPTANCE-DATETIME>20200227173333
ACCESSION NUMBER:		0001140361-20-004308
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200225
FILED AS OF DATE:		20200227
DATE AS OF CHANGE:		20200227

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WOBENSMITH JOHN C
		CENTRAL INDEX KEY:			0001333673

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33393
		FILM NUMBER:		20664071

	MAIL ADDRESS:	
		STREET 1:		35 WEST 56TH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GENCO SHIPPING & TRADING LTD
		CENTRAL INDEX KEY:			0001326200
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		299 PARK AVENUE
		STREET 2:		12TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10171
		BUSINESS PHONE:		(646) 443-8550

	MAIL ADDRESS:	
		STREET 1:		299 PARK AVENUE
		STREET 2:		12TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10171
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<DESCRIPTION>FORM 4
<TEXT>
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    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2020-02-25</periodOfReport>

    <issuer>
        <issuerCik>0001326200</issuerCik>
        <issuerName>GENCO SHIPPING &amp; TRADING LTD</issuerName>
        <issuerTradingSymbol>GNK</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001333673</rptOwnerCik>
            <rptOwnerName>WOBENSMITH JOHN C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O GENCO SHIPPING &amp; TRADING LIMITED</rptOwnerStreet1>
            <rptOwnerStreet2>299 PARK AVENUE, 12TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10171</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOfficer>true</isOfficer>
            <officerTitle>CEO, President and Secretary</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
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                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2020-02-27</value>
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            <transactionCoding>
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                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6696</value>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
                    <value>A</value>
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        <nonDerivativeTransaction>
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            <transactionDate>
                <value>2020-02-27</value>
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    <derivativeTable>
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            <underlyingSecurity>
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        <derivativeTransaction>
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            <transactionAmounts>
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                <transactionPricePerShare>
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                <value>2021-02-25</value>
                <footnoteId id="F5"/>
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            <expirationDate>
                <value>2026-02-25</value>
            </expirationDate>
            <underlyingSecurity>
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                </underlyingSecurityTitle>
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                    <value>168539</value>
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            </underlyingSecurity>
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            <securityTitle>
                <value>Restricted Stock Units</value>
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            <conversionOrExercisePrice>
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            <exerciseDate>
                <footnoteId id="F6"/>
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            <expirationDate>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>59595</value>
                    <footnoteId id="F3"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>59595</value>
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                <directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>8.065</value>
                <footnoteId id="F12"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2020-03-04</value>
                <footnoteId id="F7"/>
            </exerciseDate>
            <expirationDate>
                <value>2025-03-04</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>135135</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
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                <sharesOwnedFollowingTransaction>
                    <value>135135</value>
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                <value>2019-02-27</value>
                <footnoteId id="F9"/>
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            <expirationDate>
                <value>2024-02-27</value>
            </expirationDate>
            <underlyingSecurity>
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            <securityTitle>
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            <conversionOrExercisePrice>
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                <value>2017-10-15</value>
                <footnoteId id="F10"/>
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            <expirationDate>
                <value>2023-03-23</value>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
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                <underlyingSecurityShares>
                    <value>133000</value>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Warrant</value>
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            <conversionOrExercisePrice>
                <value>247.0151</value>
                <footnoteId id="F13"/>
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            <exerciseDate>
                <value>2015-08-07</value>
                <footnoteId id="F11"/>
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            <expirationDate>
                <value>2020-08-07</value>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
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                <underlyingSecurityShares>
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                <footnoteId id="F11"/>
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                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
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                <footnoteId id="F13"/>
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            <exerciseDate>
                <value>2015-08-07</value>
                <footnoteId id="F11"/>
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            <expirationDate>
                <value>2020-08-07</value>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
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                <underlyingSecurityShares>
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                <sharesOwnedFollowingTransaction>
                    <value>741958</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Warrant</value>
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            <conversionOrExercisePrice>
                <value>200.1099</value>
                <footnoteId id="F14"/>
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            <exerciseDate>
                <value>2014-07-09</value>
            </exerciseDate>
            <expirationDate>
                <value>2021-07-09</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2785</value>
                </underlyingSecurityShares>
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                <sharesOwnedFollowingTransaction>
                    <value>26533</value>
                    <footnoteId id="F14"/>
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    <footnotes>
        <footnote id="F1">These shares were sold in order to satisfy the reporting person's tax obligations for restricted stock units that settled in shares of the issuer's common stock on
February 27, 2020.</footnote>
        <footnote id="F2">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.27 to $7.45 inclusive) on
February 27, 2020. The reporting person undertakes to provide to Genco Shipping &amp; Trading Limited, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.</footnote>
        <footnote id="F3">Each restricted stock unit represents the right to receive one share of the issuer's common stock, or in the sole discretion of the issuer's Compensation Committee, the value of a share of common stock on the date that the restricted stock unit vests.</footnote>
        <footnote id="F4">These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 25, 2020, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.</footnote>
        <footnote id="F5">These options generally become exercisable in equal installments on each of the first three anniversaries of February 25, 2020.</footnote>
        <footnote id="F6">These restricted stock units generally vest in equal installments on each of the first three anniversaries of March 4, 2019, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.</footnote>
        <footnote id="F7">These options generally become exercisable in equal installments on each of the first three anniversaries of March 4, 2019.</footnote>
        <footnote id="F8">These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 27, 2018, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.</footnote>
        <footnote id="F9">These options generally become exercisable in equal installments on each of the first three anniversaries of February 27, 2018.</footnote>
        <footnote id="F10">These options generally become exercisable in equal installments on each of the first three anniversaries of October 15, 2016.</footnote>
        <footnote id="F11">These warrants became exercisable in equal installments on each of the first three anniversaries of August 7, 2014.</footnote>
        <footnote id="F12">Per the terms of these options, the exercise price was adjusted from $8.39 to $8.065, from $11.13 to $10.805, and from $13.69 to $13.365, respectively, as a result of the special dividend of $0.325 per share paid on December 5, 2019.</footnote>
        <footnote id="F13">Per the terms of these warrants, the exercise price was adjusted from $259.10 to $247.01511, from $287.30 to $273.89981, and from $341.90 to $325.95317,  respectively, as a result of the special dividend of $0.325 per share and the quarterly dividend of $0.175 per share paid on December 5, 2019.</footnote>
        <footnote id="F14">Per the terms of these warrants, the exercise price was adjusted from $209.90 to $200.10989 and the number of shares for which each warrant is exercisable was adjusted from 0.1 shares to 0.105 shares per the terms of the warrant as a result of the special dividend of $0.325 per share and the quarterly dividend of $0.175 per share paid on December 5, 2019.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ John C. Wobensmith</signatureName>
        <signatureDate>2020-02-27</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
