We study a mathematical model of a hinged flexible beam with piezoelectric actuators and electromagnetic shaker in this paper. The shaker is modelled as a mass and spring system attached to the beam. To analyze free vibrations of this mechanical system, we consider the corresponding spectral problem for a fourthorder differential operator with interface conditions that characterize the shaker dynamics. The characteristic equation is studied analytically, and asymptotic estimates of eigenvalues are obtained. The eigenvalue distribution is also illustrated by numerical simulations under a realistic choice of mechanical parameters.