Core Viewpoint - Genco Shipping & Trading Limited has amended its shareholder rights plan to adjust the definition of "Acquiring Person" and the beneficial ownership threshold, aiming to protect the interests of all shareholders amid competitive stock accumulation [1][2][3]. Summary by Sections Amendment Details - The Amendment changes the beneficial ownership threshold for triggering the Rights Plan to 10%, or 15% for any 13G Investor, and excludes a Grandfathered Shareholder who owns nearly 15% of the Common Stock [2]. Board's Rationale - The Board believes the Amendment is in the best interests of the Company and its shareholders, particularly due to the rapid accumulation of stock by a competitor, which could lead to a transfer of control [3]. Rights Agreement Purpose - The Rights Agreement aims to ensure that all shareholders can realize the long-term value of their investments and to prevent any entity from gaining control without offering a control premium to all shareholders [4]. Future Considerations - The Rights Plan, as amended, will remain effective, and any future extensions or renewals will require a shareholder vote [5]. Company Overview - Genco Shipping & Trading Limited is a U.S.-based drybulk shipowner focused on global commodity transportation, operating a fleet of 43 vessels with an average age of 12.8 years and a total capacity of approximately 4,629,000 deadweight tons (dwt) [7].