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John C. Wobensmith, Chairman, CEO, and President of GENCO SHIPPING & TRADING LTD (NYSE:GNK), sold 39,000 shares of common stock in two transactions. On September 12, 2025, he sold 20,000 shares at a weighted average price of $18.12, and on September 15, 2025, he sold 19,000 shares at a weighted average price of $18.44.
The sales on September 12 occurred in multiple transactions at prices ranging from $18.10 to $18.18, while the sales on September 15 took place at prices between $18.30 and $18.60. The total value of the shares sold amounts to $712,760. Following these transactions, Wobensmith directly owns 506,733 shares of GENCO SHIPPING & TRADING LTD.
These sales were reported on a Form 4 filing with the Securities and Exchange Commission. A portion of the shares were sold to cover tax obligations related to the exercise of stock options on September 8, 2025.
Wobensmith also holds restricted stock units, which represent the right to receive one share of the company’s common stock, or the value of a share of common stock, and options to purchase 69,284 shares of common stock at an exercise price of $9.91.
In other recent news, Genco Shipping & Trading Ltd reported its Q2 2025 earnings, revealing a net loss per share of $0.16, which was larger than the anticipated $0.12 loss. However, the company exceeded revenue expectations significantly, reporting $80.94 million compared to the forecasted $49.96 million. In other developments, Genco Shipping announced changes to its board of directors following the resignation of Chairman James G. Dolphin. The resignation, effective August 26, 2025, was stated to be unrelated to any disagreements with the company’s strategy or operations. Following this, the board adopted a Fifth Amendment to the company’s Amended and Restated By-laws. This amendment grants the Lead Independent Director the authority to call a special meeting of the board. These recent developments provide investors with important insights into Genco Shipping’s current financial and corporate governance landscape.
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