Sec Form 4 Filing - BROWN IRWIN J @ SUN BANCORP INC /NJ/ - 2010-06-09

Insider filing report for Changes in Beneficial Ownership
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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
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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1. Name and Address of Reporting Person
BROWN IRWIN J
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)
226 LANDIS AVE
3. Date of Earliest Transaction (MM/DD/YY)
06/09/2010
(Street)
VINELAND, NJ08360
4. If Amendment, Date Original Filed (MM/DD/YY)
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 (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 276,368 D
Common Stock 4,032 I Dir. Fee Defer Plan
Common Stock 09/22/2010 P 299,583 A $ 4 349,155 I Four Bs Partnership
Preferred Stock ( 2 ) 09/22/2010 P 3,568 A $ 1,000 3,568 I Four Bs Partnership
Common Stock 37,146 I Ike & Candy Brn Foundation ( 1 )
Common Stock 5,250 I JAZ Enterprises
Common Stock 22,330 I NFI Intl. Ltd.
Common Stock 1,012 I Son-Jordan
Common Stock 06/09/2010 G 1,000 A $ 4.02 32,290 I Son - Zachary
Common Stock 25,828 I Son - Aaron
Common Stock 7,377 I by Spouse
Common Stock 09/22/2010 P 56,594 A $ 4 56,594 I NFI Interactive Logistics, LLC
Preferred Stock ( 2 ) 09/22/2010 P 673 A $ 1,000 673 I NFI Interactive Logistics, LLC
Common Stock 09/22/2010 P 41,811 A $ 4 41,811 I National Distribution Centers, L.P.
Preferred Stock ( 2 ) 09/22/2010 P 497 A $ 1,000 497 I National Distribution Centers, L.P.
Common Stock 09/22/2010 P 20,916 A $ 4 20,916 I National Freight, Inc.
Preferred Stock ( 2 ) 09/22/2010 P 249 A $ 1,000 249 I National Freight, Inc.
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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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
(MM/DD/YY)
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) $ 8.09 01/24/2002 01/24/2012 Common Stock 4,429 4,429 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
BROWN IRWIN J
226 LANDIS AVE
VINELAND, NJ08360
X
Signatures
/s/ Ike Brown 09/24/2010
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Does not have pecuniary interest.
( 2 )Each Preferred Share, purchase price of $1,000, convertible into 250 shares of Common Stock, following shareholder approval of additional authorized shares.

Reminder: Report on a separate line for each class of securities ben eficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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