Frank de Costanzo - 08 Mar 2023 Form 4 Insider Report for Eagle Bulk Shipping Inc.

Role: Chief Financial Officer
Signature: /s/ Frank De Costanzo
Issuer symbol: N/A
Transactions as of: 08 Mar 2023
Net transactions value: -$79,024
Form type: 4
Filing time: 08 Mar 2023, 19:54:02 UTC
Previous filing: 04 Jan 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EGLE	Common Stock	Options Exercise		+3,153	+6.5%		51,412	08 Mar 2023	Direct	F1
transaction	EGLE	Common Stock	Tax liability	$79,024	-1,446	-2.8%	$54.65	49,966	08 Mar 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	+9,461		$0.000000	9,461	08 Mar 2023	Common Stock	9,461		Direct	F1, F3
transaction	EGLE	Restricted Stock Units	Options Exercise	$0	-3,153	-33%	$0.000000	6,308	08 Mar 2023	Common Stock	3,153		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.