Genco Shipping adopts one-year shareholder rights plan expiring Sep 30, 2026

GENCO SHIPPING & TRADING LTD

Rights plan triggers at 15% beneficial ownership; exercise price $107 per right.
Flip-in provision: holders (excluding acquiring person) can buy shares worth 2x exercise price.
Board may redeem rights for $0.001 each prior to trigger; no shareholder vote required for adoption.
Rights dividend payable Oct 13, 2025 to shareholders of record; one right per common share.
Plan similar to other public companies; intended to prevent coercive takeover tactics.

item 1.01 item 3.03 item 5.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

GENCO SHIPPING & TRADING LTD: Filed Statement of Designations designating 60,000 Series B Preferred Shares, effective October 1, 2025 (effective 2025-10-01).

Change: charter amendment
Effective: 2025-10-01

Exact text from the filing

In connection with the adoption of the Rights Agreement, the Board approved a Statement of Designations of Series B Preferred Stock designating 60,000 Preferred Shares. The Company filed the Statement of Designations for the Preferred Shares on October 1 , 2025 with the Registrar of Corporations of the Republic of the Marshall Islands and the Statement of Designations became effective on such date.

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Source: SEC EDGAR

accession 0001140361-25-036920

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