Frank De Costanzo - Mar 8, 2023 Form 4 Insider Report for Eagle Bulk Shipping Inc. (EGLE)

Role
Chief Financial Officer
Signature
/s/ Frank De Costanzo
Stock symbol
EGLE
Transactions as of
Mar 8, 2023
Transactions value $
-$79,024
Form type
4
Date filed
3/8/2023, 07:54 PM
Previous filing
Jan 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EGLE Common Stock Options Exercise +3.15K +6.53% 51.4K Mar 8, 2023 Direct F1
transaction EGLE Common Stock Tax liability -$79K -1.45K -2.81% $54.65 50K Mar 8, 2023 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction EGLE Restricted Stock Units Award $0 +9.46K $0.00 9.46K Mar 8, 2023 Common Stock 9.46K Direct F1, F3
transaction EGLE Restricted Stock Units Options Exercise $0 -3.15K -33.33% $0.00 6.31K Mar 8, 2023 Common Stock 3.15K Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This award of performance-vested restricted stock units was granted on March 11, 2022 and certain performance criteria was certified as described in footnote (3) below. Following the certification of performance criteria, the award vests in three substantially equal installments on March 8, 2023, January 2, 2024 and January 2, 2025.
F2 Represents the withholding of shares to satisfy the reporting person's tax withholding obligation upon the vesting of restricted stock units on March 8, 2023.
F3 On March 8, 2023, the Compensation Committee of the Board of Directors of Eagle Bulk Shipping Inc. (the "Issuer") certified that certain performance criteria for the performance-vested restricted stock units granted under the Issuer's 2016 Equity Incentive Plan to Frank De Costanzo, the Issuer's Chief Financial Officer, on March 11, 2022 had been met and 9,461 restricted stock units may become vested.