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