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Republic of the Marshall Islands
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001-33393
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98-0439758
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(State or other jurisdiction of incorporation or organization)
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(Commission file number)
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(I.R.S. employer identification no.)
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299 Park Avenue
12th Floor
New York, NY
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10171
(Zip code)
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| (Address of principal executive offices) |
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| ☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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| ☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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| ☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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| ☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading Symbol(s)
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Name of exchange on which registered
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Common stock, par value $0.01 per share
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GNK
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New York Stock Exchange (NYSE)
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| Preferred Stock Purchase Rights |
N/A
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New York Stock Exchange (NYSE)
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| Item 1.01 |
Entry into a Material Definitive Agreement.
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| Item 3.03 |
Material Modification to Rights of Security Holders.
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| Item 9.01 |
Financial Statements and Exhibits.
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(d)
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Exhibits
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Exhibit No.
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Description
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4.1
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Second Amendment to Shareholder Rights Agreement, dated May 1, 2026
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104
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Cover Page Interactive Data File (embedded within the Inline XBRL document)
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| GENCO SHIPPING & TRADING LIMITED | ||
| DATE: May 1, 2026 | ||
| /s/ Peter Allen | ||
| Peter Allen | ||
| Chief Financial Officer | ||
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Exhibit No.
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Description
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Second Amendment to Shareholder Rights Agreement, dated May 1, 2026
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104
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Cover Page Interactive Data File (embedded within the Inline XBRL document)
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1. |
Amendments to the Agreement. The First Amendment
is hereby rescinded as of the date of this Amendment and shall be of no further force or effect, and the Agreement is hereby restored to its terms as in effect immediately prior to the effectiveness of the First Amendment.
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2. |
Capitalized Terms. Capitalized terms used but not
defined in this Amendment shall have the respective meanings given to them in the Agreement.
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3. |
Effect of Amendment. Except as expressly provided in this Amendment,
the terms of the Agreement shall continue in full force in effect.
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4. |
Benefits of this Amendment. Nothing in this
Amendment shall be construed to give to any Person other than the Company, the Rights Agent and the registered holders of the Rights Certificates (and, prior to the Distribution Date, the shares of Common Stock) any legal or equitable
right, remedy or claim under this Amendment; but this Amendment shall be for the sole and exclusive benefit of the Company, the Rights Agent and the registered holders of the Rights Certificates (and, prior to the Distribution Date, the
shares of Common Stock).
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5. |
Severability. If any term, provision, covenant or
restriction of this Amendment is held by a court of competent jurisdiction or other applicable authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Amendment shall
remain in full force and effect and shall in no way be affected, impaired or invalidated; provided, however, that notwithstanding anything in this
Amendment to the contrary, if any such term, provision, covenant or restriction is held by such court or authority to be invalid, void or unenforceable and the Board determines in its good faith judgment that severing such invalid, void
or unenforceable language from this Amendment would adversely affect the purpose or effect of this Amendment, the right of redemption set forth in Section 23 of the Agreement shall be reinstated and shall not expire until the Close of
Business on the tenth day following the date of such determination by the Board; further, provided, however, that if such excluded term, provision, covenant or restriction shall materially and adversely affect
the rights, immunities, liabilities, duties or obligations of the Rights Agent, the Rights Agent shall be entitled to resign upon ten (10) days’ written notice to the Company.
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6. |
Governing Law; Jurisdiction. This Amendment shall
be deemed to be a contract made under the laws of the State of New York and for all purposes shall be governed by and construed in accordance with the laws of such jurisdiction applicable to contracts to be made and performed entirely
within such jurisdiction. Each party hereto hereby agrees that any action, proceeding or claim against it arising out of or relating in any way to this Amendment shall be brought and enforced in the courts of the State of New York or the
United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. Each party hereto hereby waives any objection to such exclusive jurisdiction and
that such courts represent an inconvenient forum. Any such process or summons to be served upon each party hereto may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid,
addressed to it at the address set forth in Section 26 of the Agreement. Such mailing shall be deemed personal service and shall be legal and binding upon such party hereto in any such action, proceeding or claim.
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7. |
Counterparts. This Amendment may be executed in any number of one or more counterparts, and each
of such counterparts by the different parties hereto in separate counterparts, each of which when executed shall for all purposes be deemed to be an original, but all such counterparts of which shall together constitute but one and the same
instrument. Delivery of an executed signature page of this Amendment by facsimile or other customary means of electronic transmission (e.g., “PDF”) shall be as effective as delivery of a manually executed counterpart hereof.
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8. |
Descriptive Headings; Rules of Construction.
Descriptive headings of the several Sections of this Amendment are inserted for convenience only and shall not control or affect the meaning or construction of any of the provisions hereof. The words “include”, “includes” and “including”
shall be deemed to be followed by the phrase “without limitation”, whether or not so expressed. The words “hereof”, “herein” and “herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this
Amendment as a whole and not to any particular provision of this Amendment, and clause, section, subsection, paragraph and exhibit references are to the clauses, sections, subsections, paragraphs and exhibits of this Amendment unless
otherwise specified. The meaning assigned to each term defined herein shall be equally applicable to both the singular and the plural forms of such term, and words denoting any gender shall include all genders. Where a word or phrase is
defined herein, unless the context otherwise requires, each of its other grammatical forms shall have a corresponding meaning.
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GENCO SHIPPING & TRADING LIMITED | ||
| By: |
/s/ John C. Wobensmith
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| Name: |
John C. Wobensmith
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Title: | Chief Executive Officer and President |
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COMPUTERSHARE INC.
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By:
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/s/ Eugene Leybovich
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Name:
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Eugene Leybovich
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Title: |
Vice President, Issuer Services
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