Das Paramita 4
4 · GENCO SHIPPING & TRADING LTD · Filed Mar 20, 2026
Research Summary
AI-generated summary of this filing
GENCO (GNK) Director Das Paramita Receives RSU Awards
What Happened
Das Paramita, a director of GENCO SHIPPING & TRADING LTD (GNK), received two grants of restricted stock units (RSUs) reported as acquisitions on 2026-03-18: 141.83 RSUs and 206.30 RSUs (total 348.13 RSUs). Each grant was recorded at $0.00 per unit (these are equity awards, not cash purchases or sales).
Key Details
- Transaction date: 2026-03-18; Form 4 filed: 2026-03-20 (appears timely).
- Grant amounts: 141.83 RSUs and 206.30 RSUs; price per unit: $0.00 (awarded).
- Total RSUs awarded: 348.13.
- Shares held after the transaction: not specified in the provided filing.
- Footnotes of note:
- F1: Each RSU converts to one common share (or cash at the Compensation Committee’s discretion) upon vesting.
- F2: One set of RSUs is noted as having vested on May 20, 2025.
- F3: The other RSUs generally vest at the next annual shareholders meeting after May 20, 2025 or 14 months after the grant date.
- F4: Some RSUs are additional units issued in lieu of cash dividends (dividend equivalents), calculated based on dividend amount and share price.
- Transaction type: Award/Grant (SEC code A); this is a derivative-equity award, not an open-market buy or sale.
Context
RSU grants are a common form of executive/director compensation and do not represent a market purchase or sale. Vesting schedules and dividend-equivalent RSUs determine when they convert into actual shares (and potential saleable stock). Because one tranche is already noted as vested (per the footnote) and another vests based on upcoming corporate events, the timing when these RSUs convert to shares (and any subsequent sales) will determine any future insider buying/selling signals.
Insider Transaction Report
- Award
Restricted Stock Units
[F1][F2][F4]2026-03-18+141.83→ 6,475.98 total→ Common Stock (141.83 underlying) - Award
Restricted Stock Units
[F1][F3][F4]2026-03-18+206.3→ 9,419.65 total→ Common Stock (206.3 underlying)
Footnotes (4)
- [F1]Each RSU 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.
- [F2]These RSUs vested on May 20, 2025.
- [F3]These RSUs generally vest on the earlier of (i) the date of the annual shareholders meeting of the issuer next following the May 20, 2025 grant date and (ii) the date that is fourteen months after the grant date.
- [F4]Represents additional RSUs granted in lieu of the right to receive the amount of cash dividends paid on the common stock underlying the previously outstanding RSUs pursuant to the terms of the governing RSU agreements. The number of additional RSUs is calculated by dividing the amount of the dividend by the closing price per share of the issuer's common stock on the dividend payment date.