0001140361-16-082871.txt : 20161017
0001140361-16-082871.hdr.sgml : 20161017
20161017171424
ACCESSION NUMBER: 0001140361-16-082871
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20161013
FILED AS OF DATE: 20161017
DATE AS OF CHANGE: 20161017
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
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
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: GEORGIOPOULOS PETER C
CENTRAL INDEX KEY: 0001142165
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-33393
FILM NUMBER: 161939400
4
1
form4.xml
FORM 4
X0306
4
2016-10-13
0001326200
GENCO SHIPPING & TRADING LTD
GNK
0001142165
GEORGIOPOULOS PETER C
C/O GENER8 MARITIME, INC.
299 PARK AVENUE, 2ND FLOOR
NEW YORK
NY
10171
true
Common Stock
166401
D
Warrant
259.1
2015-08-07
2020-08-07
Common Stock
178549
1785498
D
Warrant
287.3
2015-08-07
2020-08-07
Common Stock
185025
1850257
D
Warrant
341.9
2015-08-07
2020-08-07
Common Stock
278234
2782341
D
Warrant
209.9
2014-07-09
2021-07-09
Common Stock
38012
380127
D
Warrant
209.9
2014-07-09
2021-07-09
Common Stock
3930
39304
I
By Fleet Acquisition LLC
On July 7, 2016, the issuer effected a 1-for-10 reverse stock split. The amount of securities beneficially owned and the exercise price of warrants have been adjusted to reflect the reverse stock split.
These warrants to purchase shares of common stock of the issuer were issued pursuant to the issuer's 2014 Management Incentive Plan. By their terms, such warrants become exercisable in equal installments on each of the first three anniversaries of August 7, 2014. On October 13, 2016, the Reporting Person resigned as Chairman of the Board and a director of the issuer. In connection therewith, the Reporting Person and the issuer entered into a Separation Agreement and a Release Agreement, each dated as of October 13, 2016, under which the Reporting Person is to receive full vesting of his unvested equity awards, including warrants exercisable for approximately 213,937 shares of the issuer's common stock. As a result of the vesting of such warrants, the Reporting Person may be deemed to be the beneficial owner of approximately 10.58% of the shares of the issuers' common stock outstanding as of the date hereof.
/s/ Peter C. Georgiopoulos
2016-10-17