SEC Form 4 · accession 0001437749-15-017914
Eagle Bulk Shipping Inc. · EGLE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gary Vogel
Officer — Chief Executive Officer · Director
Period of report
Sep 29, 2015
Accepted (ET)
Oct 1, 2015 · 5:00 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001322439
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Sep 29, 2015 | A | 325,000 | $0.00 | A | 325,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option (right to buy)F2 | $5.87 | Sep 29, 2015 | A | 325,000 | A | — | Sep 29, 2020 | Common Stock | 325,000 | 325,000 | D |
| Option (right to buy)F2 | $13.00 | Sep 29, 2015 | A | 325,000 | A | — | Sep 29, 2020 | Common Stock | 325,000 | 325,000 | D |
Explanation of responses
- F1On September 29, 2015, the Board of Directors (the "Board") of Eagle Bulk Shipping Inc. (the "Issuer") granted to Gary Vogel, a member of the Board and the Issuer's Chief Executive Officer, 325,000 shares of restricted common stock. The shares of restricted common stock vest 100% on the third anniversary of September 1, 2015, the date when Mr. Vogel became the Issuer's CEO, subject to Mr. Vogel's continued employment with the Issuer or any of its affiliates on the vesting date, subject to adjustment in the event Mr. Vogel's employment is terminated by the Issuer without cause or by him for good reason prior to the vesting date, as detailed in the Restricted Stock Award Agreement, dated September 29, 2015, by and between the Issuer and Mr. Vogel.
- F2Also on September 29, 2015, the Board granted Mr. Vogel options to purchase 325,000 shares of the Issuer's common stock at an exercise price of $5.87 per share, and options to purchase 325,000 shares of the Issuer's common stock at an exercise price of $13 per share (collectively, the "Options"). The Options vest ratably on each of the four anniversaries of September 1, 2015, the date when Mr. Vogel became the Issuer's CEO, subject to Mr. Vogel's continued employment with the Issuer on each applicable vesting date.