GENER8 MARITIME,INC. (OTCBB:GMRRQ) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain
Officers.
On January5, 2017, Peter C. Georgiopoulos, Chief Executive
Officer and Chairman of the Board of Gener8 Maritime,Inc. (the
Company) and Leonard J. Vrondissis, Executive Vice President,
Secretary and Chief Financial Officer of the Company each were
granted awards of stock options (Stock Options) to the Companys
2012 Equity Incentive Plan, as amended and restated, effective
June22, 2015 as approved by the Board of Directors of the Company
on the recommendation of its Compensation Committee.
Mr.Georgiopoulos received Stock Options to purchase 500,000
shares of common stock. Mr.Vrondissis received Stock Options to
purchase 25,000 shares of common stock. The Stock Options are
exercisable at an exercise price of $4.69 per share of common
stock. The exercise price is equal to the closing trading price
of the Companys common stock on the New York Stock Exchange on
January5, 2017. The Stock Options were fully vested upon grant,
have a 7-year term, subject to earlier termination upon the
occurrence of certain events related to termination of
employment, and are subject to the provisions of Stock Option
Grant Agreements, the form of which is filed herewith as
Exhibit10.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and
Exhibits.
(d) Exhibits
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ExhibitNo. |
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Description |
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10.1 |
Formof Stock Option Agreement with respect to grants of |
to the requirements of the Securities Exchange Act of 1934,
Gener8 Maritime,Inc. has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
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GENER8 MARITIME,INC. |
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/s/ Leonard J. Vrondissis |
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Leonard J. Vrondissis |
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Chief Financial Officer, Secretary and Executive Vice |
DATE: January9, 2017
EXHIBITINDEX
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ExhibitNo. |
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Description |
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10.1 |
Formof Stock Option Agreement with respect to grants of |
About GENER8 MARITIME, INC. (OTCBB:GMRRQ)
Gener8 Maritime, Inc., formerly General Maritime Corporation, is a provider of international seaborne crude oil transportation services. The Company operates through the segment, which includes the transportation of international seaborne crude oil and petroleum products with its fleet of vessels. The Company owns a fleet of over 45 tankers, including 31 vessels on the water consisting of 14 Very Large Crude Carriers (VLCCs), approximately 11 Suezmax vessels, over four Aframax vessels and approximately two Panamax vessels with an aggregate carrying capacity of approximately 6.6 million deadweight tons. The Company’s vessels are primarily available for charter on a spot voyage or time charter basis and for employment in commercial pools. Its fleet of vessels include Gener8 Zeus, Gener8 Neptune, Gener8 Ares, Gener8 Hera, Gener8 Harriet G, Gener8 Horn, Gener8 Daphne, Gener8 Elektra, Gener8 Companion, Gener8 Compatriot, Gener8 Spyridon, Gener8 Kara G, Gener8 Maniate and others. GENER8 MARITIME, INC. (OTCBB:GMRRQ) Recent Trading Information
GENER8 MARITIME, INC. (OTCBB:GMRRQ) closed its last trading session at 0.0042 with shares trading hands.
