Hudson City Bancorp's Chairman and CEO Acquires Shares through Stock Option Exercise
PARAMUS, N.J., Sept. 8 /PRNewswire-FirstCall/ -- Hudson City Bancorp, Inc. (Nasdaq: HCBK), announced that Ronald E. Hermance, Jr., Hudson City's Chairman, President and Chief Executive Officer, exercised 50,000 Hudson City Bancorp, Inc. stock options and retained the shares thereby increasing his non-derivative ownership of Hudson City common stock. The options had an exercise price of $12.22 and would have expired in 2014. Hudson City Bancorp's closing price on September 3, 2009 (the exercise date) was $12.65. This purchase brings his holdings to a grand total of 3,369,804 shares, excluding unexercised stock options.
Hudson City Bancorp, Inc. is the parent company of Hudson City Savings Bank, a well-established community banking institution with a long-standing tradition of service excellence. Hudson City is ranked in the top twenty-five U.S. financial institutions by asset size and operates a total of 131 branch offices in the New York metropolitan area. The Federal Deposit Insurance Corporation insures Hudson City Savings' deposits.
SOURCE Hudson City Bancorp, Inc.
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