XNAS:SNBC Sun Bancorp Inc Insider Activity 4 Filing - 2/23/2012

Effective Date 2/23/2012

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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 *
KRAMER ELI
  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
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
C/O SUN BANCORP, INC., 226 LANDIS AVENUE
3. Date of Earliest Transaction (Month/Day/Year)
02/23/2012
(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 02/23/2012   A V 10,000 D $2.86 42,214 D  
Common Stock               27,997 I Brian Kramer Trust
Common Stock 05/24/2012   A   13,928 A $2.48 69,361 I Director Fee Deferred Plan
Common Stock 02/23/2012   A V 10,000 A $2.86 59,265 I PEKMPP Pension Plan
Common Stock               5,000 I Stock Plan 9/24/10(1)
Common Stock               27,976 I Tracy Kramer Trust
Common Stock               2,295 I 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
Non-Qualified Stock Option (right to buy) $3.98               (2) 01/21/2020 Common Stock 13,157   13,157 D  
Non-Qualfied Stock Option (right to buy) $5.1             09/24/2010(3) 09/24/2020 Common Stock 46,500   46,500 D  
Non-Qualified Stock Option (right to buy) $6.18               (4) 01/15/2019 Common Stock 7,907   7,907 D  
Non-Qualified Stock Option (right to buy) $10.76               (5) 01/22/2018 Common Stock 6,082   6,082 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
KRAMER ELI
C/O SUN BANCORP, INC.
226 LANDIS AVENUE
VINELAND, NJ 08360
  X      

Signatures

 /s/ Eli Kramer   05/24/2012
** 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) First exercisable at the rate of one-fifth on the one-year anniversary of the Date of Grant and one-fifth annually thereafter during such periods of continued service as a director of the Company.
(3) 25% is first earned and exercisable on September 24, 2010 and 25% annually thereafter.
(4) First exercisable at the rate of one-third on the second anniversary of the date of grant and one-third annually thereafter during such periods of continued service as a director.
(5) First exercisable at the rate of one-fifth one year from the date of grant and one-fifth annually thereafter during such periods of continued service as a director.

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XNAS:SNBC Sun Bancorp Inc Insider Activity 4 Filling

Sun Bancorp Inc XNAS:SNBC Stock - Get Insider Activity SEC Filing of Sun Bancorp Inc XNAS:SNBC stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

XNAS:SNBC Sun Bancorp Inc Insider Activity 4 Filing - 2/23/2012
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