Companies Eagle Bulk Shipping Inc.
Eagle Bulk Shipping (EGLE): executive pay, fiscal 2023
Free brief. Every figure links to the company’s own filing.
Eagle Bulk Shipping Inc. no longer files a proxy statement; its last pay data is FY2023.
CEO pay, last three years
- $3,943,847FY2021
- $7,004,436FY2022
- $2,849,539FY2023
CEO total pay was $2,849,539 in fiscal 2023, down from $7,004,436 in fiscal 2022.
FY2023: salary $695,000 · bonus $0 · stock awards $1,082,475 · option awards $0
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Gary Vogel | $695,000 | $0 | $1,082,475 | $0 | $1,035,000 | $0 | $37,064 | $2,849,539 |
| Chief Executive Officer | ||||||||
| Constantine Tsoutsoplides | 362,500 | 0 | 617,929 | 0 | 233,000 | 0 | 327,835 | 1,541,264 |
| Chief Financial Officer | ||||||||
| Frank De Costanzo | 184,250 | 0 | 0 | 0 | 0 | 0 | 506,894 | 691,144 |
| Former Chief Financial Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2023 total | FY2022 total | FY2021 total | Δ FY2022→2023 |
|---|---|---|---|---|
| Gary Vogel | $2,849,539 | $7,004,436 | $3,943,847 | ↓ −4,154,897 |
| Constantine Tsoutsoplides | 1,541,264 | — | — | — |
| Frank De Costanzo | 691,144 | 1,458,287 | 1,811,018 | ↓ −767,143 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The Company's compensation program is designed to attract, motivate and retain executives who possess the talent, leadership and commitment needed to operate the business, while aligning executive compensation with Company performance and long-term shareholder value creation.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | ClearBridge Compensation Group LLC |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2023
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Constantine Tsoutsoplides | RSU | 2023-02-17 | — | — | 4,800 | — | $275,040 |
| Constantine Tsoutsoplides | PSU | 2023-04-01 | — | 4,908 | 3,272 | 9,816 | 342,889 |
| Gary Vogel | PSU | 2023-03-06 | — | 12,735 | 8,490 | 25,470 | 1,082,475 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Constantine Tsoutsoplides | $275,040 | $342,889 | $0 | 55.5% |
| Gary Vogel | 0 | 1,082,475 | 0 | 100.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2023
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Gary Vogel | RSU | 6,252 | — | $346,361 |
| Gary Vogel | RSU | 8,490 | — | 470,346 |
| Constantine Tsoutsoplides | PSU | 9,816 | — | 543,806 |
| Gary Vogel | RSU | 10,847 | — | 600,924 |
| Gary Vogel | RSU | 20,640 | — | 1,143,456 |
| Gary Vogel | PSU | 25,470 | — | 1,411,038 |
| Gary Vogel | RSU | 38,045 | — | 2,107,693 |
| Gary Vogel | PSU | 38,045 | — | 2,107,693 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Paul M. Leand JrIndependent · Board Chair · Compensation (Chair) | $170,000 | $84,473 | — | — | — | $254,473 |
| Gary WestonIndependent | 105,000 | 70,385 | — | — | — | 175,385 |
| Randee E. DayIndependent · Departed during FY | 105,000 | 70,385 | — | — | — | 175,385 |
| Justin A. KnowlesIndependent | 100,000 | 70,385 | — | — | — | 170,385 |
| Bart VeldhuizenIndependent · Compensation | 95,000 | 70,385 | — | — | — | 165,385 |
| A. Kate BlankenshipIndependent | 71,458 | 0 | — | — | — | 71,458 |
Board fee structure and ownership guideline
| Annual cash retainer | $75,000 |
|---|---|
| Annual equity retainer | $75,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 25,000 / 15,000 / 15,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2023 |
|---|---|
| Cash retainers and fees | $646,458 |
| Equity awards (grant-date value) | $366,013 |
| All other compensation | $0 |
| Total cost of the board | $1,012,471 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Eagle Bulk Shipping as a peer
Companies that benchmark against EGLE
No companies currently name EGLE as a compensation peer in their most recent disclosure.
This is the complete answer, not a partial one — the list is never padded.
Disclosed peer group — fiscal year 2023
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | International Seaways, Inc. | 2025 | Lois Zabrocky | $800,000 | $2,618,159 | $0 | $1,037,000 | $4,505,569 |
| 2 | Genco Shipping & Trading Limited | 2025 | John Wobensmith | 725,000 | 2,065,433 | 0 | 1,124,000 | 3,965,933 |
| 3 | Eagle Bulk Shipping Inc. | 2023 | Gary Vogel | 695,000 | 1,082,475 | 0 | 1,035,000 | 2,849,539 |
| 4 | Pangaea Logistics Solutions, Ltd. | 2025 | Mark Filanowski | 600,000 | 0 | 0 | 0 | 1,237,359 |
| — | Diana Shipping Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Safe Bulkers, Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Star Bulk Carriers Corp. | — | — | — | — | — | — | not in coverage universe |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Eagle Bulk Shipping Inc. | not disclosed | PSU 60 · RSU 40 | not disclosed | ClearBridge Compensation Group LLC |
| Diana Shipping Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Genco Shipping & Trading Limited | not disclosed | PRSU 60 · RSU 40 | not disclosed | Frederic W. Cook & Co., Inc. |
| International Seaways, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Pangaea Logistics Solutions, Ltd. | not disclosed | not disclosed | not disclosed | Lyons, Benenson & Company, Inc. |
| Safe Bulkers, Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Star Bulk Carriers Corp. | not disclosed | not disclosed | not disclosed | not disclosed |
Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.
Say-on-pay history and pay ratio
No say-on-pay vote is on file for this company.
CEO pay ratio
| Ratio (CEO : median employee) | 176.1 : 1 |
|---|---|
| CEO total compensation | $2,849,539 |
| Median employee compensation | $16,182 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (20 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Gary Vogel. 10-K, filed 2024-03-04. Section “Executive Compensation” · page 87. As printed: 2,849,539. View filing ↗
- Section 01, Constantine Tsoutsoplides. 10-K, filed 2024-03-04. Section “Executive Compensation” · page 87. As printed: 1,541,264. View filing ↗
- Section 01, Frank De Costanzo. 10-K, filed 2024-03-04. Section “Executive Compensation” · page 87. As printed: 691,144. View filing ↗
- Section 03, Constantine Tsoutsoplides RSU. 10-K, filed 2024-03-04. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Constantine Tsoutsoplides PSU. 10-K, filed 2024-03-04. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 03, Gary Vogel PSU. 10-K, filed 2024-03-04. Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. 10-K, filed 2024-03-04. Section “CEO Pay Ratio”. As printed: 176.1 : 1. View filing ↗
- Section 08, Paul M. Leand Jr. 10-K, filed 2024-03-04. Section “Director Compensation”. As printed: 254,473. View filing ↗
- Section 08, Gary Weston. 10-K, filed 2024-03-04. Section “Director Compensation”. As printed: 175,385. View filing ↗
- Section 08, Randee E. Day. 10-K, filed 2024-03-04. Section “Director Compensation”. As printed: 175,385. View filing ↗
- Section 08, Justin A. Knowles. 10-K, filed 2024-03-04. Section “Director Compensation”. As printed: 170,385. View filing ↗
- Section 08, Bart Veldhuizen. 10-K, filed 2024-03-04. Section “Director Compensation”. As printed: 165,385. View filing ↗
- Section 08, A. Kate Blankenship. 10-K, filed 2024-03-04. Section “Director Compensation”. As printed: 71,458. View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 646,458 + equity 366,013 + all other 0 = 1,012,471, summed across the director compensation table rows.
- International Seaways, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in International Seaways, Inc.'s own proxy. As printed: 4,505,569. View filing ↗
- Genco Shipping & Trading Limited, Section 10b CEO total. DEF 14A, filed 2026-05-07. CEO total compensation as printed in Genco Shipping & Trading Limited's own proxy. As printed: 3,965,933. View filing ↗
- Eagle Bulk Shipping Inc. (subject), Section 10b CEO total. 10-K, filed 2024-03-04. CEO total compensation as printed in Eagle Bulk Shipping Inc.'s own proxy. As printed: 2,849,539. View filing ↗
- Pangaea Logistics Solutions, Ltd., Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Pangaea Logistics Solutions, Ltd.'s own proxy. As printed: 1,237,359. View filing ↗