Peter Georgiopoulos has resigned as chairman of the board and director of Genco Shipping & Trading.
He will receive $500,000 as a severance payment and full vesting of 68,581 restricted shares of the company’s common stock.
He will also be able to exercise warrants accounting for 213,937 shares at a price of $259.10 to $341.90 each.
Shares in Genco were changing hands at $5.35
