FORM 4UNITED 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, 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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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. PIERCEFL34949
(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)
XDirector10% 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)
XForm 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)
CodeVAmount(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 Security3. 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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Non-Emp. Dir. Restr. Stock Units (2) 05/30/2008 D   31 05/30/200805/30/2008 Common Stock 31 (3) 0 D  
Non-Emp. Dir. Restr. Stock Units (2) 05/30/2008 D   39 08/29/200808/29/2008 Common Stock 39 (4) 0 D  
Non-Employee Director Stock Options (Right to buy) $ 64 05/30/2008 D   146 05/30/200311/30/2012 Common Stock 146 (5) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 62.64 05/30/2008 D   149 08/28/200302/28/2013 Common Stock 149 (6) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 66.7 05/30/2008 D   1,911 09/26/200303/26/2013 Common Stock 1,911 (7) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 77.27 05/30/2008 D   121 11/30/200305/31/2013 Common Stock 121 (8) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 69.98 05/30/2008 D   133 02/29/200408/29/2013 Common Stock 133 (9) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 72.46 05/30/2008 D   129 05/28/200411/28/2013 Common Stock 129 (10) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 87.84 05/30/2008 D   106 08/27/200402/27/2014 Common Stock 106 (11) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 87.68 05/30/2008 D   1,492 09/30/200403/31/2014 Common Stock 1,492 (12) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 81.06 05/30/2008 D   115 11/28/200405/28/2014 Common Stock 115 (13) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 87.92 05/30/2008 D   106 02/28/200508/31/2014 Common Stock 106 (14) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 97.58 05/30/2008 D   96 05/31/200511/30/2014 Common Stock 96 (15) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 99.5 05/30/2008 D   94 08/28/200502/28/2015 Common Stock 94 (16) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 99.07 05/30/2008 D   2,043 10/07/200504/07/2015 Common Stock 2,043 (17) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 99.04 05/30/2008 D   94 11/30/200505/31/2015 Common Stock 94 (18) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 100.5 05/30/2008 D   93 02/28/200608/31/2015 Common Stock 93 (19) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 110.99 05/30/2008 D   84 05/31/200611/30/2015 Common Stock 84 (20) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 134.44 05/30/2008 D   69 08/27/200602/28/2016 Common Stock 69 (21) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 142.37 05/30/2008 D   1,422 10/11/200604/11/2016 Common Stock 1,422 (22) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 133.75 05/30/2008 D   70 11/30/200605/31/2016 Common Stock 70 (23) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 130.33 05/30/2008 D   71 02/28/200708/31/2016 Common Stock 71 (24) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 152.48 05/30/2008 D   61 05/31/200711/30/2016 Common Stock 61 (25) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 152.24 05/30/2008 D   61 08/31/200702/28/2017 Common Stock 61 (26) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 157.02 05/30/2008 D   1,200 10/18/200704/18/2017 Common Stock 1,200 (27) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 149.96 05/30/2008 D   62 11/30/200705/31/2017 Common Stock 62 (28) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 108.66 05/30/2008 D   86 02/29/200808/31/2017 Common Stock 86 (29) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 99.7 05/30/2008 D   94 05/31/200811/30/2017 Common Stock 94 (30) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 79.86 05/30/2008 D   117 08/31/200802/28/2018 Common Stock 117 (31) 0 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. Sanders06/02/2008
** Signature of Reporting PersonDate
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.
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