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
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
SALERNO FREDERIC V
   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)
C/O VERIZON COMMUNICATIONS, 400 WESTCHESTER AVENUE, 2ND FLR.		 3. Date of Earliest Transaction (Month/Day/Year)
05/30/2008
(Street)

WHITE PLAINS, NY 10604		 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

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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. SEC 1474 (9-02)

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. Stock Options (Right to Buy) $ 79.86 05/30/2008   D     234 08/29/2008 02/28/2018 Common Stock 234 (1) 0 D  
Non-Emp. Dir. Stock Options (Rt. to buy) $ 130.35 05/30/2008   D     143 02/28/2007 08/31/2016 Common Stock 143 (2) 0 D  
Non-Emp. Dir. Stock Options (Rt. to Buy) $ 152.48 05/30/2008   D     122 05/31/2007 11/30/2016 Common Stock 122 (3) 0 D  
Non-emp. dir. stock options (rt. to buy) $ 149.96 05/30/2008   D     125 11/30/2007 05/31/2017 Common Stock 125 (4) 0 D  
Non-Emp. Dir. Stock Options (Rt. to Buy) $ 108.66 05/30/2008   D     172 02/29/2008 08/31/2017 Common Stock 172 (5) 0 D  
Non-Emp. Dir. Stock Options (Rt. to Buy) $ 99.7 05/30/2008   D     188 05/30/2008 11/30/2017 Common Stock 188 (6) 0 D  
non-emp.dir. stock options (rt. to buy) $ 152.24 05/30/2008   D     123 08/28/2007 02/28/2017 Common Stock 123 (7) 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SALERNO FREDERIC V
C/O VERIZON COMMUNICATIONS
400 WESTCHESTER AVENUE, 2ND FLR.
WHITE PLAINS, NY 10604		   X      

Signatures

 /s/ Salerno, Frederic V.   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) This option was converted in the merger into an option to purchase 50 shares of JPMorgan Chase common stock for $367.12 per share.
(2) This option was converted in the merger into an option to purchase 31 shares of JPMorgan Chase common stock for $599.23 per share.
(3) This option was converted in the merger into an option to purchase 26 shares of JPMorgan Chase common stock for $700.96 per share.
(4) This option was converted in the merger into an option to purchase 27 shares of JPMorgan Chase common stock for $689.38 per share.
(5) This option was converted in the merger into an option to purchase 37 shares of JPMorgan Chase common stock for $499.52 per share.
(6) This option was converted in the merger into an option to purchase 40 shares of JPMorgan Chase common stock for $458.33 per share.
(7) This option was converted in the merger into an option to purchase 26 shares of JPMorgan Chase common stock for $699.86 per share.
 
Remarks:
Form 2 of 2

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.