XNAS:SNBC Sun Bancorp Inc Insider Activity 4 Filing - 3/30/2012

Effective Date 3/30/2012

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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 *
BROWN SIDNEY R
  2. Issuer Name and Ticker or Trading Symbol
SUN BANCORP INC /NJ/ [SNBC]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Vice Chair/Treasurer/Secretary
(Last)
(First)
(Middle)
226 LANDIS AVE
3. Date of Earliest Transaction (Month/Day/Year)
03/30/2012
(Street)

VINELAND, NJ 08360
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 03/30/2012   A   596 A $3.35 1,935,217 D  
Common Stock               2,576 I 2008 GRAT Sid Brown
Common Stock               113,185 I 2009 GRAT Sid Brown
Common Stock               15 I 401(k)
Common Stock               1,265,839 I Four Bs Partnership
Common Stock               2,686 I IRA
Common Stock               183,243 I NFI Interact Logistic
Common Stock               22,330 I NFI Intl. Ltd.
Common Stock               186,713 I Nat'l Distr. Centers
Common Stock               95,818 I National Freight Inc.
Common Stock               255,767 I SRB Trst for Desc
Common Stock               10,000 I SRB Trust 3/15/2004
Common Stock               2,707 I Sandra Brw Trust
Common Stock               209,927 I Sid & Sandy Brw Fdn.
Common Stock               27,303 I Son - Eric
Common Stock               18,900 I Son - Jacob
Common Stock               13,750 I Stock Plan 9/24/10(1)
Common Stock               33,147 I by Daughter
Common Stock               3,021 I by Spouse

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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
Incentive Stock Option (right to buy) $4.73             12/31/2013(2) 03/02/2021 Common Stock 104,016   104,016 D  
Incentive Stock Option (right to buy) $5.23             05/20/2010(3) 05/20/2015 Common Stock 19,120   19,120 D  
Non-Qualified Stock Option (right to buy) $4.75             05/20/2010(3) 05/20/2020 Common Stock 27,917   27,917 D  
Non-Qualified Stock Option (right to buy) $5.1             09/24/2010(4) 09/24/2020 Common Stock 113,600   113,600 D  
Non-Qualified Stock Option (right to buy) $10.76               (5) 01/22/2018 Common Stock 97,350   97,350 D  
Non-Qualified Stock Option (right to buy) $15.33             05/08/2007 05/08/2016 Common Stock 14,781   14,781 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
BROWN SIDNEY R
226 LANDIS AVE
VINELAND, NJ 08360
  X     Vice Chair/Treasurer/Secretary  

Signatures

 /s/ Sidney R. Brown   04/02/2012
** 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) 25% first earned and non-forfeitable on September 24, 2010 and 25% annually thereafter.
(2) Awarded and administered as per the approved 2010 Performance Equity Plan. Maximum options that become earned and exercisable if Board established long-term performance objectives are achieved by 12/31/2013.
(3) Exercisable as of date of grant.
(4) 25% is first earned and exercisable on September 24, 2010 and 25% annually thereafter.
(5) First exercisable at the rate of 1/5 one year from the date of grant and 1/5 annually thereafter during such periods of continued service as a director.

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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XNAS:SNBC Sun Bancorp Inc Insider Activity 4 Filling

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XNAS:SNBC Sun Bancorp Inc Insider Activity 4 Filing - 3/30/2012
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