Sec Form 4 Filing - Zoullas Alexis P @ Eagle Bulk Shipping Inc. - 2014-12-02

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Zoullas Alexis P
2. Issuer Name and Ticker or Trading Symbol
Eagle Bulk Shipping Inc. [ EGLE]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
See Remarks
(Last) (First) (Middle)
C/O EAGLE BULK SHIPPING INC., 477 MADISON AVENUE
3. Date of Earliest Transaction (MM/DD/YY)
12/02/2014
(Street)
NEW YORK, NY10022
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $0.01 per share 12/02/2014 A( 1 )( 2 ) 160,000 A $ 0 160,978 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option $ 18 12/02/2014 A( 1 ) 200,000 ( 3 ) 12/02/2021 Common Stock 200,000 $ 0 200,000 D
Stock Option $ 25.25 12/02/2014 A( 1 ) 240,000 ( 3 ) 12/02/2021 Common Stock 240,000 $ 0 240,000 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Zoullas Alexis P
C/O EAGLE BULK SHIPPING INC.
477 MADISON AVENUE
NEW YORK, NY10022
See Remarks
Signatures
/s/ Alexis P. Zoullas 12/04/2014
Signature of Reporting Person Date
Explanation of Responses:
( 1 )As contemplated by the Issuer's Prepackaged Plan of Reorganization Pursuant to Chapter 11 of the Bankruptcy Code, which was confirmed by the United States Bankruptcy Court for the Southern District of New York, Mr. Zoullas was granted (i) 160,000 shares of restricted common stock of the reorganized Company, (ii) stock options exercisable for 200,000 shares at an exercise price of $18 and (iii) stock options exercisable for 240,000 shares at an exercise price of $25.25 ((i) and (ii) collectively, the "Options").
( 2 )The shares of restricted common stock vest in four equal installments on each of the first four anniversaries of October 15, 2014.
( 3 )The Options vest in four equal installments on each of the first four anniversaries of October 15, 2014.

Remarks:
(+) The Reporting Person is the President of Eagle Shipping International (USA) LLC. a wholly-owned subsidiary of Eagle Bulk Shipping Inc.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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