SEC Form 4 · accession 0001628280-18-000222
Eagle Bulk Shipping Inc. · EGLE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Frank De Costanzo
Officer — Chief Financial Officer
Period of report
Jan 4, 2018
Accepted (ET)
Jan 8, 2018 · 4:26 pm EST
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 | Jan 4, 2018 | A | 95,000 | $0.00 | A | 335,530 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On January 4, 2018, Eagle Bulk Shipping Inc. (the "Issuer") granted to Frank De Costanzo, the Issuer's Chief Financial Officer, 95,000 shares of restricted common stock. The shares of restricted common stock vest in three substantially equal installments on each of the first three anniversaries of the date of the grant, subject to Mr. De Costanzo's continued employment with the Issuer or its affiliate on the applicable vesting date. In the event that Mr. De Costanzo's employment is terminated by the Issuer for any reason, any portion of the restricted stock which has not vested as of the date of such termination shall be forfeited.
- F2(Continued from footnote 1)If Mr. De Costanzo's employment is terminated for cause, the vested and unvested portion of the restricted stock shall be forfeited. The shares of restricted common stock issued to Mr. De Costanzo described above were granted pursuant to the Eagle Bulk Shipping Inc. 2016 Equity Incentive Plan and the Restricted Stock Award Agreement, dated January 4, 2018, by and between the Issuer and Mr. De Costanzo.