Magyar Bancorp, Inc. — Director's Dealing 2007

Mar 9, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Magyar Bancorp, Inc. (MGYR)
CIK: 0001337068
Period of Report: 2007-03-07

Reporting Person: Lukacs Joseph J Jr (Director, Chairman of the Board)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-07	Common Stock	P	100	$14.33	Acquired	20547	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	200	Indirect
Common Stock	1000	Indirect
Common Stock	1000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$14.61	2017-03-01	Common Stock (11348)	11348	Direct

Footnotes

F1: Includes 5,477 shares of restricted stock that vests at a rate of 20% per year commencing on March 1, 2008.

F2: Stock options vest at a rate of 20% per year commencing on March 1, 2008.