Eagle Bulk Shipping Management

Management criteria checks 3/4

Eagle Bulk Shipping's CEO is Gary Vogel, appointed in Sep 2015, has a tenure of 8.58 years. total yearly compensation is $2.85M, comprised of 24.4% salary and 75.6% bonuses, including company stock and options. directly owns 1.27% of the company’s shares, worth €8.09M. The average tenure of the management team and the board of directors is 8.4 years and 9.4 years respectively.

Key information

Gary Vogel

Chief executive officer

US$2.8m

Total compensation

CEO salary percentage	24.4%
CEO tenure	8.6yrs
CEO ownership	1.3%
Management average tenure	8.4yrs
Board average tenure	9.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Gary Vogel's remuneration changed compared to Eagle Bulk Shipping's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$3m	US$695k	US$23m
Sep 30 2023	n/a	n/a	US$39m
Jun 30 2023	n/a	n/a	US$122m
Mar 31 2023	n/a	n/a	US$198m
Dec 31 2022	US$7m	US$695k	US$248m
Sep 30 2022	n/a	n/a	US$312m
Jun 30 2022	n/a	n/a	US$313m
Mar 31 2022	n/a	n/a	US$228m
Dec 31 2021	US$4m	US$678k	US$185m
Sep 30 2021	n/a	n/a	US$98m
Jun 30 2021	n/a	n/a	US$8m
Mar 31 2021	n/a	n/a	-US$22m
Dec 31 2020	US$2m	US$675k	-US$35m
Sep 30 2020	n/a	n/a	-US$46m
Jun 30 2020	n/a	n/a	-US$40m
Mar 31 2020	n/a	n/a	-US$25m
Dec 31 2019	US$3m	US$675k	-US$22m
Sep 30 2019	n/a	n/a	-US$4m
Jun 30 2019	n/a	n/a	US$3m
Mar 31 2019	n/a	n/a	US$13m
Dec 31 2018	US$4m	US$675k	US$13m
Sep 30 2018	n/a	n/a	-US$10m
Jun 30 2018	n/a	n/a	-US$23m
Mar 31 2018	n/a	n/a	-US$33m
Dec 31 2017	US$4m	US$675k	-US$44m

Compensation vs Market: Gary's total compensation ($USD2.85M) is above average for companies of similar size in the German market ($USD1.30M).

Compensation vs Earnings: Gary's compensation has been consistent with company performance over the past year.

CEO

Gary Vogel (57 yo)

8.6yrs

Tenure

US$2,849,539

Compensation

Mr. Gary S. Vogel serves as the President and Chief Executive Officer at Eagle Bulk Shipco LLC. He has been Chief Executive Officer and Director at Eagle Bulk Shipping Inc. since September 1, 2015. Mr. Vog...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Gary Vogel	CEO & Director	8.6yrs	US$2.85m	1.27% € 8.1m
Constantine Tsoutsoplides	CFO & Secretary	less than a year	US$1.54m	0.091% € 583.4k
Michael Mitchell	General Counsel	8.3yrs	no data	no data
Bo Westergaard	Chief Commercial Officer	8.5yrs	no data	no data
Jonathan Dowsett	Director of Fleet Performance	no data	no data	no data

8.4yrs

Average Tenure

55yo

Average Age

Experienced Management: E1B1's management team is seasoned and experienced (8.4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Gary Vogel	CEO & Director	8.6yrs	US$2.85m	1.27% € 8.1m
A. Blankenship	Independent Director	1.3yrs	US$71.46k	0.017% € 106.3k
Paul Leand	Independent Chairman	9.4yrs	US$254.47k	0.34% € 2.1m
Gary Weston	Independent Director	9.4yrs	US$175.39k	0.069% € 442.8k
L. Veldhuizen	Independent Director	9.4yrs	US$165.39k	0.069% € 442.8k
Justin Knowles	Independent Director	9.4yrs	US$170.39k	0.069% € 442.8k

9.4yrs

Average Tenure

57yo

Average Age

Experienced Board: E1B1's board of directors are considered experienced (9.4 years average tenure).

Eagle Bulk Shipping Management

Management criteria checks 3/4

Key information

Recent management updates

Eagle Bulk Shipping Inc. Announces Resignation of Randee E. Day as Member of the Board of Directors

Eagle Bulk Shipping Inc. Appoints A. Kate Blankenship to Its Board of Directors

CEO & Director recently sold €718k worth of stock

Eagle Bulk Shipping Inc. Announces Frank De Costanzo as Special Advisor to the Board of Directors

Insufficient new directors

Independent Director recently sold €51k worth of stock

Recent updates

Eagle Bulk Shipping Inc. has withdrawn its Follow-on Equity Offering in the amount of $50 million.

Star Bulk Carriers Corp. (NasdaqGS:SBLK) completed the acquisition of Eagle Bulk Shipping Inc. (NYSE:EGLE) from Dimensional Fund Advisors LP, Lazard Asset Management LLC, Tigerstaden AS and others.

Fourth quarter dividend of US$0.60 announced

Full year 2023 earnings released: EPS: US$2.05 (vs US$19.09 in FY 2022)

Eagle Bulk Shipping Inc. Declares Quarterly Dividend for the Fourth Quarter of 2023, Payable on March 21, 2024

New minor risk - Share price stability

Eagle Bulk Shipping Inc. Announces Resignation of Randee E. Day as Member of the Board of Directors

Star Bulk Carriers Corp. (NasdaqGS:SBLK) entered into a definitive agreement to acquire Eagle Bulk Shipping Inc. (NYSE:EGLE) for approximately $540 million.

Eagle Bulk Shipping Inc. Declares Quarterly Dividend for the Third Quarter of 2023, Payable on November 22, 2023

Third quarter 2023 earnings released: US$0.55 loss per share (vs US$5.94 profit in 3Q 2022)

Eagle Bulk Shipping Inc. to Report Q3, 2023 Results on Nov 02, 2023

Upcoming dividend of US$0.58 per share at 14% yield

New minor risk - Financial position

Second quarter 2023 earnings released: EPS: US$1.42 (vs US$7.27 in 2Q 2022)

Eagle Bulk Shipping Inc. to Report Q2, 2023 Results on Aug 03, 2023

Eagle Bulk Shipping Inc. (NYSE:EGLE) announces an Equity Buyback for 3,800,000 shares, for $219.3 million.

Upcoming dividend of US$0.10 per share at 15% yield

Eagle Bulk Shipping Inc. Declares Dividend for the First Quarter of 2023, Payable on May 25, 2023

First quarter 2023 earnings released: EPS: US$0.24 (vs US$4.09 in 1Q 2022)

Investor sentiment deteriorates as stock falls 15%

Upcoming dividend of US$0.60 per share at 12% yield

Full year 2022 earnings released: EPS: US$19.09 (vs US$14.91 in FY 2021)

Eagle Bulk Shipping Inc. to Report Q4, 2022 Results on Mar 02, 2023

Eagle Bulk Shipping Inc. Appoints A. Kate Blankenship to Its Board of Directors

Eagle Bulk Shipping Inc.(NYSE:EGLE) dropped from NASDAQ Composite Index

CEO & Director recently sold €718k worth of stock

Eagle Bulk Shipping Inc. Announces Frank De Costanzo as Special Advisor to the Board of Directors

Insufficient new directors

Third quarter 2022 earnings released: EPS: US$5.94 (vs US$6.12 in 3Q 2021)

Eagle Bulk Shipping Inc. Declares Quarterly Dividend for the third Quarter of 2022, Payable on November 23, 2022

Investor sentiment improved over the past week

Eagle Bulk Shipping Inc. to Report Q3, 2022 Results on Nov 03, 2022

Eagle Bulk Shipping Inc. Declares Quarterly Dividend for the Second Quarter of 2022, Payable on August 26, 2022

Second quarter 2022 earnings released: EPS: US$7.27 (vs US$0.76 in 2Q 2021)

Eagle Bulk Shipping Inc. to Report Q2, 2022 Results on Aug 04, 2022

Investor sentiment deteriorated over the past week

Investor sentiment deteriorated over the past week

Independent Director recently sold €51k worth of stock

First quarter 2022 earnings released: EPS: US$4.09 (vs US$0.84 in 1Q 2021)

Eagle Bulk Shipping Inc. Declares Quarterly Dividend, Payable on May 25, 2022

Insufficient new directors

Eagle Bulk Shipping Inc. to Report Q1, 2022 Results on May 05, 2022

Independent Director recently sold €54k worth of stock

Investor sentiment improved over the past week

Eagle Bulk Shipping Inc. Declares A Quarterly Dividend for the Fourth Quarter of 2021, Payable on March 25, 2022

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Investor sentiment improved over the past week

Eagle Bulk Shipping Inc. to Report Q4, 2021 Results on Mar 03, 2022

Investor sentiment improved over the past week

Third quarter 2021 earnings released: EPS US$6.12 (vs US$1.09 loss in 3Q 2020)

Investor sentiment deteriorated over the past week

Investor sentiment improved over the past week

Second quarter 2021 earnings released: EPS US$0.76 (vs US$1.99 loss in 2Q 2020)

Eagle Bulk Shipping Inc. has completed a Follow-on Equity Offering in the amount of $78.825963 million.

First quarter 2021 earnings released: EPS US$0.84 (vs US$0.34 loss in 1Q 2020)

Full year 2020 earnings released: US$3.40 loss per share (vs US$2.13 loss in FY 2019)

New 90-day high: €21.40

Eagle Bulk Shipping Inc. to Report Q4, 2020 Results on Mar 04, 2021

New 90-day high: €16.90

CEO & Director recently bought €123k worth of stock

Third quarter 2020 earnings released: US$1.09 loss per share

CEO & Director recently bought €135k worth of stock

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age