SEC Form 4

FORM 4		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 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
X	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* NOVELLY PAUL A (Last) (First) (Middle) 3920 N. A-1-A, UNIT 301 (Street) FT. PIERCE FL 34949 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol BEAR STEARNS COMPANIES INC [ BSC ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 05/30/2008
	4. If Amendment, Date of 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

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	05/30/2008		D		3,537	D	(1)	0	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 (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 Securities Underlying Derivative Security (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: 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
Non-Emp. Dir. Restr. Stock Units	(2)	05/30/2008		D			31	05/30/2008	05/30/2008	Common Stock	31	(3)	0.00	D
Non-Emp. Dir. Restr. Stock Units	(2)	05/30/2008		D			39	08/29/2008	08/29/2008	Common Stock	39	(4)	0.00	D
Non-Employee Director Stock Options (Right to buy)	$64	05/30/2008		D			146	05/30/2003	11/30/2012	Common Stock	146	(5)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$62.64	05/30/2008		D			149	08/28/2003	02/28/2013	Common Stock	149	(6)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$66.7	05/30/2008		D			1,911	09/26/2003	03/26/2013	Common Stock	1,911	(7)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$77.27	05/30/2008		D			121	11/30/2003	05/31/2013	Common Stock	121	(8)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$69.98	05/30/2008		D			133	02/29/2004	08/29/2013	Common Stock	133	(9)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$72.46	05/30/2008		D			129	05/28/2004	11/28/2013	Common Stock	129	(10)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$87.84	05/30/2008		D			106	08/27/2004	02/27/2014	Common Stock	106	(11)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$87.68	05/30/2008		D			1,492	09/30/2004	03/31/2014	Common Stock	1,492	(12)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$81.06	05/30/2008		D			115	11/28/2004	05/28/2014	Common Stock	115	(13)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$87.92	05/30/2008		D			106	02/28/2005	08/31/2014	Common Stock	106	(14)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$97.58	05/30/2008		D			96	05/31/2005	11/30/2014	Common Stock	96	(15)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$99.5	05/30/2008		D			94	08/28/2005	02/28/2015	Common Stock	94	(16)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$99.07	05/30/2008		D			2,043	10/07/2005	04/07/2015	Common Stock	2,043	(17)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$99.04	05/30/2008		D			94	11/30/2005	05/31/2015	Common Stock	94	(18)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$100.5	05/30/2008		D			93	02/28/2006	08/31/2015	Common Stock	93	(19)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$110.99	05/30/2008		D			84	05/31/2006	11/30/2015	Common Stock	84	(20)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$134.44	05/30/2008		D			69	08/27/2006	02/28/2016	Common Stock	69	(21)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$142.37	05/30/2008		D			1,422	10/11/2006	04/11/2016	Common Stock	1,422	(22)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$133.75	05/30/2008		D			70	11/30/2006	05/31/2016	Common Stock	70	(23)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$130.33	05/30/2008		D			71	02/28/2007	08/31/2016	Common Stock	71	(24)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$152.48	05/30/2008		D			61	05/31/2007	11/30/2016	Common Stock	61	(25)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$152.24	05/30/2008		D			61	08/31/2007	02/28/2017	Common Stock	61	(26)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$157.02	05/30/2008		D			1,200	10/18/2007	04/18/2017	Common Stock	1,200	(27)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$149.96	05/30/2008		D			62	11/30/2007	05/31/2017	Common Stock	62	(28)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$108.66	05/30/2008		D			86	02/29/2008	08/31/2017	Common Stock	86	(29)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$99.7	05/30/2008		D			94	05/31/2008	11/30/2017	Common Stock	94	(30)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$79.86	05/30/2008		D			117	08/31/2008	02/28/2018	Common Stock	117	(31)	0.00	D

Explanation of Responses:

1. Disposed of pursuant to the merger agreement between issuer and JPMorgan Chase & Co. in exchange for 757 shares of JPMorgan Chase common stock having a market value of $9.35 per share on the effective date of the merger.

2. One for one.

3. These Restricted Stock Units were converted in the merger into 6 Restricted Stock Units of JPMorgan Chase.

4. These Restricted Stock Units were converted in the merger into 8 Restricted Stock Units of JPMorgan Chase.

5. This option was converted in the merger into an option to purchase 31 shares of JPMorgan Chase common stock for $294.21 per share.

6. This option was converted into an option to purchase 32 shares of JPMorgan Chase common stock for $287.96 per share.

7. This option was converted into an option to purchase 415 shares of JPMorgan Chase common stock for $306.61 per share.

8. This option was converted into an option to purchase 26 shares of JPMorgan Chase common stock for $355.22 per share.

9. This option was converted into an option to purchase 28 shares of JPMorgan Chase common stock for $321.70 per share.

10. This option was converted into an option to purchase 28 shares of JPMorgan Chase common stock for $333.10 per share.

11. This option was converted into an option to purchase 23 shares of JPMorgan Chase common stock for $403.81 per share.

12. This option was converted into an option to purchase 324 shares of JPMorgan Chase common stock for $403.07 per share.

13. This option was converted into an option to purchase 25 shares of JPMorgan Chase common stock for $372.64 per share.

14. This option was converted into an option to purchase 23 shares of JPMorgan Chase common stock for $404.17 per share.

15. This option was converted into an option to purchase 20 shares of JPMorgan Chase common stock for $448.58 per share.

16. This option was converted into an option to purchase 20 shares of JPMorgan Chase common stock for $457.41 per share.

17. This option was converted into an option to purchase 444 shares of JPMorgan Chase common stock for $455.45 per share.

18. This option was converted into an option to purchase 20 shares of JPMorgan Chase common stock for $455.29 per share.

19. This option was converted into an option to purchase 20 shares of JPMorgan Chase common stock for $462.01 per share.

20. This option was converted into an option to purchase 18 shares of JPMorgan Chase common stock for $510.23 per share.

21. This option was converted into an option to purchase 15 shares of JPMorgan Chase common stock for $618.03 per share.

22. This option was converted into an option to purchase 309 shares of JPMorgan Chase common stock for $654.48 per share.

23. This option was converted into an option to purchase 15 shares of JPMorgan Chase common stock for $614.86 per share.

24. This option was converted into an option to purchase 15 shares of JPMorgan Chase common stock for $599.23 per share.

25. This option was converted into an option to purchase 13 shares of JPMorgan Chase common stock for $700.96 per share.

26. This option was converted into an option to purchase 13 shares of JPMorgan Chase common stock for $699.86 per share.

27. This option was converted into an option to purchase 261 shares of JPMorgan Chase common stock for $721.83 per share.

28. This option was converted into an option to purchase 13 shares of JPMorgan Chase common stock for $689.38 per share.

29. This option was converted into an option to purchase 18 shares of JPMorgan Chase common stock for $499.52 per share.

30. This option was converted into an option to purchase 20 shares of JPMorgan Chase common stock for $458.33 per share.

31. This option was converted into an option to purchase 25 shares of JPMorgan Chase common stock for $367.12 per share.

Remarks:

Attorney in fact for the Reporting Person, Paul A. Novelly

	/s/ James F. Sanders	06/02/2008
	** Signature of Reporting Person	Date
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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.