Constantine Tsoutsoplides - Dec 15, 2023 Form 4 Insider Report for Eagle Bulk Shipping Inc. (EGLE)

Signature
/s/ Constantine Tsoutsoplides
Stock symbol
EGLE
Transactions as of
Dec 15, 2023
Transactions value $
-$307,238
Form type
4
Date filed
12/19/2023, 05:00 PM
Previous filing
Apr 3, 2023
Next filing
Feb 27, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EGLE Common Stock Tax liability -$228K -4.17K -34.83% $54.68 7.81K Dec 15, 2023 Direct F1
transaction EGLE Common Stock Options Exercise +3.27K +41.9% 11.1K Dec 19, 2023 Direct F2
transaction EGLE Common Stock Tax liability -$79K -1.45K -13.1% $54.41 9.63K Dec 19, 2023 Direct F3

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 Options Exercise $0 -3.27K -100% $0.00* 0 Dec 19, 2023 Common Stock 3.27K Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the withholding of shares to satisfy the reporting person's tax withholding obligation upon the vesting of shares of restricted common stock awarded on January 2, 2021, February 11, 2022, and February 17, 2023. On December 15, 2023, in connection with the employment agreement entered into by and among the Issuer, Eagle Shipping International (USA) LLC and the reporting person on December 11, 2023, as reported on the Issuer's Form 8-K filed with the SEC on December 14, 2023, vesting of the reporting person's shares of restricted common stock that would have vested on January 2, 2024, January 2, 2025 and January 2, 2026 was accelerated, as previously approved by the Compensation Committee of the Issuer's Board of Directors. The total value of securities withheld was based on a price of $54.68 per share, the closing price of the Issuer's common stock on December 15, 2023.
F2 This award was granted on April 1, 2023. On December 15, 2023, in connection with the employment agreement entered into by and among the Issuer, Eagle Shipping International (USA) LLC and the reporting person on December 11, 2023, as reported on the Issuer's Form 8-K filed with the SEC on December 14, 2023, vesting of the reporting person's restricted stock units that would have vested on January 2, 2024, January 2, 2025 and January 2, 2026 was accelerated, as previously approved by the Compensation Committee of the Issuer's Board of Directors. The shares of common stock in settlement of these restricted stock units were delivered to the reporting person on December 19, 2023.
F3 Represents the withholding of shares to satisfy the reporting person's tax withholding obligation upon the vesting of restricted stock units awarded on April 1, 2023. The total value of securities withheld was based on a price of $54.41 per share, the closing price of the Issuer's common stock on December 19, 2023.