Ownership Submission
FORM 4
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

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(h) of the Investment Company Act of 1940
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(Print or Type Responses)
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 (Month/Day/Year)
05/30/2008
(Street)

FT. PIERCE, FL 34949		 4. If Amendment, Date 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
(City)
(State)
(Zip)
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  

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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 Underlying Securities
(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) 05/30/2008   D     31 05/30/2008 05/30/2008 Common Stock 31 (3) 0 D  
Non-Emp. Dir. Restr. Stock Units (2) 05/30/2008   D     39 08/29/2008 08/29/2008 Common Stock 39 (4) 0 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 D  

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   06/02/2008
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(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

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