Magyar Bancorp, Inc. — Director's Dealing 2007

Mar 5, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Magyar Bancorp, Inc. (MGYR)
CIK: 0001337068
Period of Report: 2007-03-01

Reporting Person: Hance Elizabeth E (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-01	Common Stock	A	25000	—	Acquired	41750	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-01	Stock Options	$14.61	A	49250	Acquired	2017-03-01	Common Stock (49250)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	11666	Indirect
Common Stock	10000	Indirect
Common Stock	1105	Indirect

Footnotes

F1: Shares of restricted stock vest at a rate of 20% per year commencing on March 1, 2008.

F2: Reflects transactions not required to be reported pursuant to Section 16 of the Securities Exchange Act of 1934, as amended.

F3: Stock options vest at a rate of 20% per year commencing on March 1, 2008.