SEC Form 4 · accession 0001628280-19-000126
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
Jan 2, 2019
Accepted (ET)
Jan 4, 2019 · 5:06 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 2, 2019 | A | 226,247 | $0.00 | A | 1,346,776 | D | |
| Common StockF3 | Jan 2, 2019 | S | 14,273 | $4.73 | D | 1,332,503 | D | |
| Common StockF4 | Jan 3, 2019 | S | 9,273 | $4.72 | D | 1,323,230 | D | |
| Common Stock | Jan 4, 2019 | F | 63,730 | $4.92 | D | 1,259,500 | D | |
| Common StockF6 | Jan 4, 2019 | S | 30,878 | $4.84 | D | 1,228,622 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On January 2, 2019, Eagle Bulk Shipping Inc. (the "Issuer") granted to Mr. Gary Vogel, the Issuer's Chief Executive Officer, 226,247 shares of restricted common stock under the 2016 equity compensation plan. 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.
- F2The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the reporting person on November 13, 2018.
- F3Represents a weighted average sales price per share. These shares were sold in multiple tranches at prices ranging from $4.70 to $4.77. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes 3, 4 & 6.
- F4Represents a weighted average sales price per share. These shares were sold in multiple tranches at prices ranging from $4.70 to $4.74.
- F5The disposition of shares represents the withholding of shares to satisfy the reporting person's tax withholding upon the vesting of the first tranche of stock grants awarded on January 4, 2018 as was approved by the Compensation Committee of the Issuer's Board of Directors. The total amount of taxes withheld was $313,552 based on $4.92 per share, the closing price of the common stock on January 4, 2019.
- F6Represents a weighted average sales price per share. These shares were sold in multiple tranches at prices ranging from $4.71 to $4.92.