Summary
John C. Wobensmith, who serves as Chairman, CEO and President of Genco Shipping & Trading Ltd (NYSE:GNK), completed a sale of 18,642 common shares on February 18, 2026, generating approximately $433,612. The share sales occurred at prices between $22.57 and $23.67. On the same date, he also received 37,284 common shares through the settlement of performance restricted stock units. Earlier, on February 16, 2025, Wobensmith acquired 41,770 restricted stock units.
Insider activity in detail
The February 18 trades combined an outright sale of common stock with a contemporaneous increase in shareholdings tied to the settlement of performance-based awards. The sale generated proceeds totaling roughly $433,612, with execution prices in the $22.57 to $23.67 range. The RSU settlements increased Wobensmith's holding by tens of thousands of shares on the same day, while a separate grant of 41,770 restricted stock units was recorded on February 16, 2025.
Corporate developments
Separately, Genco Shipping & Trading Limited has agreed to acquire two Newcastlemax vessels built in 2020 for a combined price of $145.5 million. Both vessels are equipped with scrubbers and are slated for delivery in the first quarter of 2026. The company plans to fund this purchase using cash on hand and its revolving credit facility.
Potential change of control
Genco has also disclosed that it received a non-binding proposal from Diana Shipping Inc. to purchase all outstanding shares for $20.60 per share. Diana Shipping reportedly owns about 14.8% of Genco's common stock. Genco's Board of Directors is reviewing the proposal with the assistance of financial and legal advisors. The company additionally rejected Diana Shipping's attempt to nominate six director candidates to replace Genco's entire board, stating that the proposal materially undervalues the company and carries significant execution risks.
What this means
The sequence of transactions — executive stock sales, RSU settlements, a fleet acquisition, and an unsolicited acquisition proposal — places both insider activity and strategic corporate decisions in the spotlight. The board review process and financing plans for the vessel acquisition are active elements that will determine near-term corporate direction.
Reported facts above reflect company filings and disclosures; no additional claims or speculation are included.