Bear Stearns Companies Inc - Statement of Changes in Beneficial Ownership (4)

FORM 4 [ X ] 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	OMB APPROVAL OMB Number: 3235-0287 Expires: February 28, 2011 Estimated average burden hours per response... 0.5
	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(f) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * NOVELLY PAUL A	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)
(Last)          (First)          (Middle) 3920 N. A-1-A, UNIT 301	3. Date of Earliest Transaction (MM/DD/YYYY) 5/30/2008
(Street) FT. PIERCE, FL 34949 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	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. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. 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	5/30/2008		D		3537	D	(1)	0	D

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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		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 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
Non-Emp. Dir. Restr. Stock Units	(2)	5/30/2008		D			31	5/30/2008	5/30/2008	Common Stock	31.00	(3)	0.00	D
Non-Emp. Dir. Restr. Stock Units	(2)	5/30/2008		D			39	8/29/2008	8/29/2008	Common Stock	39.00	(4)	0.00	D
Non-Employee Director Stock Options (Right to buy)	$64.00	5/30/2008		D			146	5/30/2003	11/30/2012	Common Stock	146.00	(5)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$62.64	5/30/2008		D			149	8/28/2003	2/28/2013	Common Stock	149.00	(6)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$66.70	5/30/2008		D			1911	9/26/2003	3/26/2013	Common Stock	1911.00	(7)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$77.27	5/30/2008		D			121	11/30/2003	5/31/2013	Common Stock	121.00	(8)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$69.98	5/30/2008		D			133	2/29/2004	8/29/2013	Common Stock	133.00	(9)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$72.46	5/30/2008		D			129	5/28/2004	11/28/2013	Common Stock	129.00	(10)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$87.84	5/30/2008		D			106	8/27/2004	2/27/2014	Common Stock	106.00	(11)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$87.68	5/30/2008		D			1492	9/30/2004	3/31/2014	Common Stock	1492.00	(12)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$81.06	5/30/2008		D			115	11/28/2004	5/28/2014	Common Stock	115.00	(13)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$87.92	5/30/2008		D			106	2/28/2005	8/31/2014	Common Stock	106.00	(14)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$97.58	5/30/2008		D			96	5/31/2005	11/30/2014	Common Stock	96.00	(15)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$99.50	5/30/2008		D			94	8/28/2005	2/28/2015	Common Stock	94.00	(16)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$99.07	5/30/2008		D			2043	10/7/2005	4/7/2015	Common Stock	2043.00	(17)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$99.04	5/30/2008		D			94	11/30/2005	5/31/2015	Common Stock	94.00	(18)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$100.50	5/30/2008		D			93	2/28/2006	8/31/2015	Common Stock	93.00	(19)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$110.99	5/30/2008		D			84	5/31/2006	11/30/2015	Common Stock	84.00	(20)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$134.44	5/30/2008		D			69	8/27/2006	2/28/2016	Common Stock	69.00	(21)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$142.37	5/30/2008		D			1422	10/11/2006	4/11/2016	Common Stock	1422.00	(22)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$133.75	5/30/2008		D			70	11/30/2006	5/31/2016	Common Stock	70.00	(23)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$130.33	5/30/2008		D			71	2/28/2007	8/31/2016	Common Stock	71.00	(24)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$152.48	5/30/2008		D			61	5/31/2007	11/30/2016	Common Stock	61.00	(25)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$152.24	5/30/2008		D			61	8/31/2007	2/28/2017	Common Stock	61.00	(26)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$157.02	5/30/2008		D			1200	10/18/2007	4/18/2017	Common Stock	1200.00	(27)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$149.96	5/30/2008		D			62	11/30/2007	5/31/2017	Common Stock	62.00	(28)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$108.66	5/30/2008		D			86	2/29/2008	8/31/2017	Common Stock	86.00	(29)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$99.70	5/30/2008		D			94	5/31/2008	11/30/2017	Common Stock	94.00	(30)	0.00	D
Non-Emp. Dir. Stock Options (Rt. to buy)	$79.86	5/30/2008		D			117	8/31/2008	2/28/2018	Common Stock	117.00	(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

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
NOVELLY PAUL A 3920 N. A-1-A, UNIT 301 FT. PIERCE, FL 34949	X

Signatures
/s/ James F. Sanders		6/2/2008
** Signature of Reporting Person		Date

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