Genco Shipping & Trading (GNK) Proxy Filing summary

Executive summary

• Received a revised, non-binding proposal from Diana Shipping Inc. to acquire all outstanding shares not already owned by Diana for $23.50 per share in cash, up from a previous $20.60 offer.

• Diana currently owns approximately 14.8% of the company's common stock.

• The board is reviewing the revised proposal with external advisors and will act in the best interests of all shareholders.

• No shareholder action is required at this time; further comments will follow after the board's review.

• Forward-looking statements caution that the transaction may not be consummated and actual results may differ due to various factors.

Voting matters and shareholder proposals

• The company will file a proxy statement and a WHITE proxy card for the 2026 Annual Meeting of Shareholders.

• Shareholders are encouraged to read the definitive proxy statement and related materials when available.

Board of directors and corporate governance

• The board consists of independent directors and executive officers, including the Chairman/CEO, CFO, Chief Accounting Officer, and Chief Commercial Officer.

• The board is supported by external financial and legal advisors in evaluating the acquisition proposal.