<SEC-DOCUMENT>0001140361-22-021102.txt : 20220527
<SEC-HEADER>0001140361-22-021102.hdr.sgml : 20220527
<ACCEPTANCE-DATETIME>20220527213016
ACCESSION NUMBER:		0001140361-22-021102
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220526
FILED AS OF DATE:		20220527
DATE AS OF CHANGE:		20220527

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:		22980141

	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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    <periodOfReport>2022-05-26</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>
            <isDirector>true</isDirector>
            <isOfficer>true</isOfficer>
            <officerTitle>CEO, President, and Secretary</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

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                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                    <value>17926</value>
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                <transactionPricePerShare>
                    <value>8.065</value>
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                <transactionAcquiredDisposedCode>
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        <nonDerivativeTransaction>
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            <transactionDate>
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            <transactionDate>
                <value>2022-05-27</value>
            </transactionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                    <footnoteId id="F4"/>
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                <transactionPricePerShare>
                    <value>25.18</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
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        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
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            <transactionDate>
                <value>2022-05-27</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>45000</value>
                    <footnoteId id="F5"/>
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                <transactionPricePerShare>
                    <value>25.147</value>
                    <footnoteId id="F6"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>399099</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F7"/>
                <footnoteId id="F8"/>
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            <exerciseDate>
                <footnoteId id="F8"/>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
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                <underlyingSecurityShares>
                    <value>71574</value>
                    <footnoteId id="F7"/>
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                    <value>71574</value>
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        </derivativeHolding>
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                <underlyingSecurityShares>
                    <value>40364</value>
                    <footnoteId id="F7"/>
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            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>40364</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
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                    <value>D</value>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>9.91</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2022-02-23</value>
                <footnoteId id="F10"/>
            </exerciseDate>
            <expirationDate>
                <value>2027-02-23</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>69284</value>
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                <sharesOwnedFollowingTransaction>
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                </sharesOwnedFollowingTransaction>
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        <derivativeHolding>
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            <expirationDate>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
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                <underlyingSecurityShares>
                    <value>28329</value>
                    <footnoteId id="F7"/>
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                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>7.06</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2021-02-25</value>
                <footnoteId id="F12"/>
            </exerciseDate>
            <expirationDate>
                <value>2026-02-25</value>
            </expirationDate>
            <underlyingSecurity>
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                <underlyingSecurityShares>
                    <value>168539</value>
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                <sharesOwnedFollowingTransaction>
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                </sharesOwnedFollowingTransaction>
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                <value>Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>8.065</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2022-05-26</value>
            </transactionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                    <value>17926</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
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                <transactionAcquiredDisposedCode>
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                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
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                </underlyingSecurityShares>
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                    <value>82896</value>
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            <conversionOrExercisePrice>
                <value>8.065</value>
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            <transactionDate>
                <value>2022-05-27</value>
            </transactionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
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                <transactionShares>
                    <value>66205</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2020-03-04</value>
                <footnoteId id="F13"/>
            </exerciseDate>
            <expirationDate>
                <value>2025-03-04</value>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>66205</value>
                </underlyingSecurityShares>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>16691</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
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                </directOrIndirectOwnership>
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        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents shares withheld by the issuer for the cashless exercise of options for 17,926 shares of the issuer's common stock.</footnote>
        <footnote id="F2">A portion of these shares were sold in order to satisfy the reporting person's tax obligations for shares of common stock of the issuer that the reporting person received from the exercise of stock options on May 26, 2022.</footnote>
        <footnote id="F3">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.30 to $25.35 (inclusive) on May 26, 2022. 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="F4">Represents shares withheld by the issuer for the cashless exercise of options for 66,205 shares of the issuer's common stock.</footnote>
        <footnote id="F5">A portion of these shares were sold in order to satisfy the reporting person's tax obligations for shares of common stock of the issuer that the reporting person received from the exercise of stock options on May 27, 2022.</footnote>
        <footnote id="F6">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.10 to $25.2913 (inclusive) on May 27, 2022. 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="F7">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="F8">These restricted stock units generally vest in installments of 21.43% per annum on each of the first three anniversaries of February 23, 2022, 17.86% on the fourth such anniversary, and 17.85% on the fifth such anniversary, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.</footnote>
        <footnote id="F9">These restricted stock units generally vest in equal installments on each of the first three anniversaries of February 23, 2021, subject to postponement of settlement if the vesting occurs during a blackout period or other trading restriction.</footnote>
        <footnote id="F10">These options generally become exercisable in equal installments on each of the first three anniversaries of February 23, 2021.</footnote>
        <footnote id="F11">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="F12">These options generally become exercisable in equal installments on each of the first three anniversaries of February 25, 2020.</footnote>
        <footnote id="F13">These options generally become exercisable in equal installments on each of the first three anniversaries of March 4, 2019.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ John C. Wobensmith</signatureName>
        <signatureDate>2022-05-27</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
