Diana Shipping Inc. filed a Form 4 with the SEC on August 25, 2026, disclosing the open-market sale of 1,200,000 common shares of Genco Shipping & Trading Ltd (NYSE:GNK) across eight transactions on August 21 and August 24, 2026.

Key Highlights

  • Total shares sold: Diana Shipping disposed of 1,200,000 common shares of Genco Shipping & Trading Ltd across eight separate transactions.
  • Transaction dates: Sales occurred on August 21, 2026 (450,000 shares) and August 24, 2026 (750,000 shares).
  • Average sale prices: Reported average prices ranged from $26.50 to $27.22 per share across the eight transactions.
  • Remaining stake: Following all reported transactions, Diana Shipping directly beneficially owns 5,064,548 common shares of Genco Shipping & Trading Ltd.
  • Reporting person role: Diana Shipping Inc. is identified as a 10% owner of Genco Shipping & Trading Ltd.
  • All transactions coded "S": Each of the eight transactions carried transaction code S, indicating open-market sales.

Diana Shipping's Phased Reduction in Genco Common Share Position

According to the filing, Diana Shipping Inc., headquartered in Athens, Greece, executed eight open-market sales of Genco Shipping & Trading Ltd common shares over two trading days. On August 21, 2026, Diana Shipping sold 75,000 shares at an average price of $26.93 and then 375,000 shares at an average price of $26.59, reducing its position from an implied starting level to 5,814,548 shares by end of that day. All transactions were reported as direct ownership and carried transaction code S.

On August 24, 2026, Diana Shipping conducted six additional sales, each of 75,000 shares except for one block of 375,000 shares. The individual 75,000-share tranches carried average prices of $27.22, $26.94, $26.65, $26.54, and $26.50, while the 375,000-share block was sold at an average price of $26.74. After these six transactions, Diana Shipping's directly held beneficial ownership stood at 5,064,548 common shares, according to the filing.

The filing notes that all reported prices are averages, as each block was executed in multiple sub-transactions. For instance, the August 21 block of 375,000 shares was sold at prices ranging from $26.29 to $26.735, inclusive, and the August 24 block of 375,000 shares ranged from $26.50 to $27.235, inclusive. The filing states that Diana Shipping "undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares sold at each separate price within the range." The Form 4 was signed by Ioannis Zafirakis as Authorized Representative on August 25, 2026.

What Was Disclosed

Diana Shipping Inc. disclosed the sale of 1,200,000 Genco Shipping & Trading Ltd common shares across eight open-market transactions on August 21 and August 24, 2026, at average prices between $26.50 and $27.22, leaving Diana Shipping with 5,064,548 directly held shares.