{"url_path":"/sec/gnk/8-k/2026-06-02/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry into a Material Definitive Agreement.","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-02","source_url":"https://www.sec.gov/Archives/edgar/data/1326200/0001140361-26-023619-index.html","accession_number":"0001140361-26-023619","cik":"0001326200","ticker":"GNK","issuer_name":"GENCO SHIPPING & TRADING LTD","edgar_url":"https://www.sec.gov/Archives/edgar/data/1326200/0001140361-26-023619-index.html","primary_entity_key":"0001326200","primary_entity_name":"GENCO SHIPPING & TRADING LTD"},"word_count":375,"has_tables":true,"body_markdown":"Item 1.01\n\nEntry into a Material Definitive Agreement.\n\nOn June 2, 2026, Genco Shipping & Trading Limited (the “Company”) entered into the Third Amendment to\nShareholders Rights Agreement (the “Third Amendment”) to amend the Shareholder Rights Agreement, dated as of October 1, 2025 between the Company and Computershare Inc., as amended to date (the “Rights Agreement”). The description of the Rights Agreement in the Company’s Current Reports on Form 8-K filed on October 1, 2025 is incorporated herein by reference.  Capitalized terms used but not otherwise\ndefined have the meanings given to them in the Rights Agreement.\n\nThe Company’s Board of Directors (the “Board”) determined that, based on shareholder feedback and its\nongoing assessment of the facts and circumstances, it would be in the best interests of the Company and its shareholders to eliminate the defined term “Acting in Concert” from the Rights Agreement.  Other provisions regarding concerted activity\ndesigned to protect all of the Company’s shareholders, including formation of a group under Rule 13d-5(b)(1) of the Securities Exchange Act of 1934, as amended, remain unchanged.\n\nWhile eliminating the “Acting in Concert” concept, the Rights Agreement remains substantially similar to rights plans adopted by other public companies and continues to be\nintended to enable all Company shareholders to realize the long-term value of their investment. The Rights Agreement is designed to reduce the likelihood that any entity, person, or group would gain control of or exert significant influence over the\nCompany through open-market accumulation or other tactics potentially disadvantaging the interests of all shareholders, without paying all shareholders an appropriate control premium. The Rights Agreement, as amended, will continue to provide the\nBoard sufficient time to fulfill its fiduciary duties on behalf of all shareholders, and it does not prevent the Board from considering any proposal. The Rights Agreement, as amended, is not intended to deter, and does not preclude the Board from\nconsidering, offers that are fair and otherwise in the best interest of the Company’s shareholders.\n\nThe foregoing description of the material terms of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the\nThird Amendment, a copy of which is attached as Exhibit 4.1 and incorporated herein by reference."}