Eagle Bulk Shipping’s executives buy stocks

CEO of Eagle Bulk Shipping is taking personal stakes in a new $60m second-lien loan. CEO Gary Vogel and Chairman Paul Leand are committing to buy nearly 2 million shares. Top executives of Eagle Bulk Shipping seek to demonstrate that they are standing shoulder to shoulder with other investors in showing faith in Eagle. CEO Gary Vogel already holds 325,000 Eagle Bulk Shipping’s shares in the form of restricted stock Gary Vogel was awarded on his recruitment last year. After this , CEO Gary Vogel will receive 984,536 shares in the second-lien deal. CEO Gary Vogel and Chairman Paul Leand will hold about 0.3% of Eagle’s outstanding stock if the transaction goes through. Eagle Bulk Shipping’s shares 41% is held by Oaktree Capital Management and 18.3% is held by Golden Tree Asset Management.