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 OF SECURITIES 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 SOPHOCLES N   2. Issuer Name and Ticker or Trading Symbol Eagle Bulk Shipping Inc. [EGLE] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Executive Officer (Last) (First) (Middle) C/O EAGLE BULK SHIPPING INC., 477 MADISON AVENUE 3. Date of Earliest Transaction (Month/Day/Year) 10/15/2014 (Street) NEW YORK, NY 10022 4. If Amendment, Date Original Filed(Month/Day/Year) 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 (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 10/15/2014   J(1)   453,710 D (1) 0 D   Common Stock 10/15/2014   J(1)   3,986 A (1) 3,986 D   Common Stock 10/15/2014   A(2)   540,540 A $ 0 544,526 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

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 (Month/Day/Year)

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

Warrant

$ 27.82

10/15/2014

J(1)

64,647

10/15/2014

10/15/2021

Common Stock

64,647

(1)

64,647

D

Non-qualified Stock Option (right to purchase)

$ 71.2

10/15/2014

J(1)

56,250

(3)

01/12/2017

Common Stock

56,250

(1)

0

D

Non-qualified Stock Option (right to purchase)

$ 3.34

10/15/2014

J(1)

1,000,000

(4)

06/26/2017

Common Stock

1,000,000

(1)

0

D

Stock Option

$ 18

10/15/2014

A(2)

675,676

(5)

10/15/2021

Common Stock

675,676

$ 0

675,676

D

Stock Option

$ 25.25

10/15/2014

A(2)

810,811

(5)

10/15/2021

Common Stock

810,811

$ 0

810,811

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
ZOULLAS SOPHOCLES N C/O EAGLE BULK SHIPPING INC. 477 MADISON AVENUE NEW YORK, NY 10022	X		Chief Executive Officer

Signatures

/s/ Sophocles N. Zoullas		10/17/2014
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Pursuant to 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, on September 23, 2014 and became effective on October 15, 2014, each share of the Issuer's common stock and options to purchase the Issuer's common stock outstanding prior to the Issuer's emergence from bankruptcy were cancelled, and the holders of the Issuer's common stock became entitled to receive (i) 0.01076359 shares of the Issuer common stock, par value $0.01 per share, for each share previously held and (ii) 0.17454475 warrants to purchase one share of the Issuer's common stock.
(2)	In accordance with 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) 540,540 shares of restricted common stock of the reorganized Company, (ii) stock options exercisable for 675,676 shares at an exercise price of $18 and (iii) stock options exercisable for 810,811 shares at an exercise price of $25.25 ((i) and (ii) collectively, the "Options").
(3)	The options vested in three equal annual installments, commencing January 12, 2008.
(4)	The options vested in four equal installments beginning on June 26, 2012
(5)	The options vest in four equal installments on each of the first four anniversaries of October 15, 2014.

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