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
                                                                                  
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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


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 control number.
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