---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-011782"
form_type: "8-K"
ticker: "GNK"
cik: "0001326200"
company_name: "GENCO SHIPPING & TRADING LTD"
filed_at: "2026-03-27T23:59:59+00:00"
generated_at: "2026-05-15T08:33:06.413436+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Genco Shipping files Employee Retention Plan with severance upon change in control

## Summary
- Plan covers Tier 1, 2, 3 employees; severance triggered by qualifying termination after a Change in Control.
- Tier 1: lump sum of CIC Severance Multiple times base salary plus avg bonus; vesting acceleration; COBRA; outplacement.
- Tier 2: similar benefits but COBRA Payment capped; outplacement capped at $25,000.
- Tier 3 benefits set in individual Participation Agreements; all must sign release to receive payments.
- Plan supersedes prior severance arrangements; automatically renews daily unless Committee terminates.

## SEC filing metadata
- accession: 0001140361-26-011782
- form_type: 8-K
- ticker: GNK
- cik: 0001326200
- company_name: GENCO SHIPPING & TRADING LTD
- filed_at: 2026-03-27T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1326200/000114036126011782/0001140361-26-011782-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1326200/000114036126011782/ef20069183_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-011782
- JSON: https://secwatch.observer/filing/0001140361-26-011782.json
- Plain text: https://secwatch.observer/filing/0001140361-26-011782.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.