Sec Form 4 Filing - STEFANOUDAKIS MICHAEL @ BioFuel Energy Corp. - 2007-06-19

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 STEFANOUDAKIS MICHAEL 2. Issuer Name and Ticker or Trading Symbol BioFuel Energy Corp. [ BIOF] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) V.P. and General Counsel (Last) (First) (Middle) C/O BIOFUEL ENERGY CORP., 1801 BROADWAY, SUITE 1060 3. Date of Earliest Transaction (MM/DD/YY) 06/19/2007 (Street) DENVER, CO80202 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 06/19/2007 A 13,235 ( 1 ) A $ 0 13,235 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 Option to Buy $ 10.5 06/19/2007 A 45,000 ( 2 ) ( 3 ) Common stock, par value $0.01 per share 45,000 $ 0 45,000 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other STEFANOUDAKIS MICHAEL C/O BIOFUEL ENERGY CORP. 1801 BROADWAY, SUITE 1060 DENVER, CO80202 V.P. and General Counsel Signatures /s/ Michael N. Stefanoudakis 06/21/2007 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Consists of 13,235 shares of restricted common stock of BioFuel Energy Corp. (the "Company") that were granted to Mr. Stefanoudakis pursuant to the Company's 2007 Equity Incentive Compensation Plan that will vest in equal increments of 25% per year on the first four anniversaries of the date of the grant. In addition, Mr. Stefanoudakis holds 21,147 shares of Class B Common Stock, par value $0.01 per share, of the Company and 21,147 LLC membership units of BioFuel Energy, LLC which may be exchanged at any time for common stock of the Company on a one-for-one basis. ( 2 )Stock options were granted to Mr. Stefanoudakis pursuant to the Company's 2007 Equity Incentive Compensation Plan and will vest with respect to 30%, 30% and 40% of the shares of common stock on each of the first three anniversaries of the grant date. ( 3 )Each option will expire upon the earlier of (i)?the fifth anniversary of the date the option is granted and (ii)?either (x)?90 days after the participant who is holding the option ceases to be a Director, officer or employee of the Company or one of its affiliates for any reason other than the participant's death or (y)?six months after the date the participant who is holding the option ceases to be a Director, officer or employee of the Company or one of its affiliates by reason of the participant's death.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

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

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