Magyar Bancorp, Inc. — Director's Dealing 2008

Sep 15, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Magyar Bancorp, Inc. (MGYR)
CIK: 0001337068
Period of Report: 2008-09-12

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-09-12	Common Stock	P	500	$8.34	Acquired	45250	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	13313	Indirect
Common Stock	10000	Indirect
Common Stock	2676	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$14.61	2017-03-01	Common Stock (49250)	49250	Direct

Footnotes

F1: Includes 25,000 shares of restricted stock that vests 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.