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    FORM 4

o Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF
CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(h) of the Investment Company Act of 1940
 
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1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer
(Check all applicable)
    Tavlarios,   John   P.       General Maritime Corporation ("GMR")         X   Director            10% Owner

 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person, if an entity (voluntary)   4.   Statement for
Month/Day/Year
        X   Officer
        (give title below)
           Other
        (specify below)
    c/o General Maritime Corporation
35 West 56th Street
              November 26, 2002       President and Chief Operating Officer

 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Day/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
    X     Form filed by One Reporting Person
             Form filed by More than
    New York,   New York   10019                                   One Reporting Person

    (City)   (State)   (Zip)                            
                Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.   Title of Security
(Instr. 3)
  2.   Transaction Date   2A.   Deemed Execution Date, if any   3.   Transaction Code
(Instr. 8)
  4.   Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
  5.   Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
  6.   Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
  7.   Nature of Indirect Beneficial Ownership
(Instr. 4)
            (Month/Day/Year)   (Month/Day/Year)  
                       
                            Code   V       Amount   (A) or (D)   Price                        

    Common Stock (restricted stock grant)       11/26/02               A           125,000   A           125,000       D(1)        

                                                                         

                                                                         

                                                                         

                                                                         

                                                                         

                                                                         


FORM 4 (Continued)   Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned
(
e.g., puts, calls, warrants, options, convertible securities)

1.   Title of Derivative Security
(Instr. 3)
  2.   Conversion or Exercise Price of Derivative Security   3.   Transaction Date
(Month/Day/Year)
  3A.   Deemed Execution Date, if any
(Month/Day/Year)
  4.   Transaction Code
(Instr. 8)
  5.   Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
  6.   Date Exercisable and Expiration Date (Month/Day/Year)
                               
 
                                    Code   V       (A)   (D)       Date
Exercisable
  Expiration Date

    Stock Options
(right to acquire)
      $18.00       11/26/02               D               240,000       (2)   6/11/11

                                                                 

                                                                 

                                                                 

                                                                 

                                                                 

                                                                 

                                                                 

                                                                 

                                                                 

                                                                 


7.   Title and Amount of Underlying Securities
(Instr. 3 and 4)
  8.   Price of Derivative Security
(Instr. 5)
  9.   Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
  10.   Ownership Form of Derivative Securities: Direct (D) or Indirect (I) (Instr. 4)   11.   Nature of Indirect Beneficial Ownership
(Instr. 4)
   
                               
    Title   Amount or Number of Shares                                

    Common Stock   240,000               0       D        

                                         

                                         

                                         

                                         

                                         

                                         

                                         

                                         

                                         

                                         

Explanation of Responses:
(1) and (2): Please see attached notes

/s/ John P. Tavlarios   November 29, 2002

**John P. Tavlarios
 
Date

Reminder:

 

Report on a separate line for each class of securities beneficially owned directly or indirectly.

*

 

If the form is filed by more than one reporting person,
see Instruction 4(b)(v).

**

 

Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:

 

File three copies of this Form, one of which must be manually signed. If space is insufficient,
see Instruction 6 for procedure.

http://www.sec.gov/divisions/corpfin/forms/form4.htm
Last update: 09/05/2002



FORM 4

Name of Reporting Person:   John P. Tavlarios
Issuer Name and Ticker or Trading Symbol:   General Maritime Corporation ('GMR')
Statement for Month/Day/Year:   November 26, 2002


Notes

        (1)  The 125,000 shares of common stock of the issuer received in the transaction reported on this form are a grant of restricted stock which will vest, if at all, in seven years from the date of grant (or earlier upon the death, disability, dismissal without cause or resignation for good reason of the recipient or upon a change of control of the issuer) and are owned directly by the reporting person.

        (2)  The reporting person surrendered options to purchase 240,000 shares of the issuer's common stock to the issuer for cancellation. Of these, options to purchase 48,000 shares of Common Stock became exercisable on each of June 15, 2001 and June 15, 2002. The remaining options would have become exercisable in equal installments on June 15, 2003, June 15, 2004, and June 15, 2005.





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FORM 4
Notes