Genco Shipping & Trading (GNK) Proxy filing summary

Executive summary

• Board urges shareholders to vote for its nominees and against Diana Shipping Inc.'s proposals and nominees in a contested proxy fight.

• Highlights a 210% total shareholder return and $7.16 per share in dividends since April 2021 under the current value strategy.

• Diana Shipping Inc. has made a tender offer at $24.80 per share, which is below net asset value and lacks a control premium.

• Communication includes forward-looking statements regarding future dividends, market conditions, and board strategies.

Voting matters and shareholder proposals

• Shareholders are asked to vote FOR the reelection of all current board nominees and board recommendations on proposals 2, 3, 4, and 5.

• Board recommends WITHHOLD votes on Diana's nominees and AGAINST Diana's shareholder proposals (proposals 6 and 7).

• Voting deadline is June 17, 2026, at 11:59 PM ET, with instructions provided for online, phone, and mail voting.

Board of directors and corporate governance

• Board emphasizes its experience and track record in delivering shareholder value and executing the comprehensive value strategy.

• Board nominees include Paramita Das, Kathleen C. Haines, Basil G. Mavroleon, Karin Y. Orsel, Arthur L. Regan, and John C. Wobensmith.