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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 4
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
|_| Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
(Print of Type Responses)
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1. Name and Address of Reporting Person*
Ragone Daniel J.
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(Last) (First) (Middle)
Ragone, Railble, Lacatena & Bepple
76 Euclid Avenue
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(Street)
Haddonfield NJ 08033
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Commerce Bancorp, Inc. (CBH)
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3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)
140-20-2449
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4. Statement for Month/Day/Year
February 2003
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5. If Amendment, Date of Original (Month/Day/Year)
________________________________________________________________________________
6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
|X| Director |_| 10% Owner
|_| Officer (give title below) |_| Other (specify below)
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________________________________________________________________________________
7. Individual or Joint/Group Filing (Check Applicable line)
|X| Form Filed by One Reporting Person
|_| Form Filed by More than One Reporting Person
________________________________________________________________________________
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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5.
Amount of 6.
4. Securities Owner-
Securities Acquired (A) or Beneficially ship
2A. 3. Disposed of (D) Owned Form: 7.
2. Deemed Transaction (Instr. 3, 4 and 5) Following Direct Nature of
Trans- Execution Code ------------------------------- Reported (D) or Indirect
1. action Date, if (Instr. 8) (A) Transaction(s) Indirect Beneficial
Title of Security Date any ------------ or (Instr. 3 & (I) Ownership
(Instr. 3) (mm/dd/yy) (mm/dd/yy) Code V Amount (D) Price Instr.4) (Instr.4) (Instr.4)
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Common Stock 67,252 s/s D
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Common Stock 22,837 s/s D IRA
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Common Stock 40,214 s/s I Wife
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Common Stock 9,822 s/s I Wife-Drip
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Over)
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
(Over)
Persons who respond to the collection of information contained in this form are
not required to respond unless the form displays a currently valid OMB control
number. SEC 1474 (9-02)
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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9.
Number 10.
of Owner-
deriv- ship
ative Form
2. Secur- of
Conver- 5. 7. ities Deriv- 11.
sion Number of Title and Amount Bene- ative Nature
or Derivative 6. of Underlying 8. ficially Secur- of
Exer- 3A. 4. Securities Date Securities Price Owned ity: In-
cise Deemed Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of Follow- Direct direct
Price 3. Execut- action or Disposed Expiration Date ---------------- Deriv- ing (D) or Bene-
1. of Trans- ion Code of(D) (Month/Day/Year) Amount ative Reported In- ficial
Title of Deriv- action Date if (Instr. (Instr. 3, ---------------- or Secur- Trans- direct Owner-
Derivative ative Date any 8) 4 and 5) Date Expira- Number ity action(s) (I) ship
Security Secur- (mm/dd/ (mm/dd/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity yy) yy) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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Right to Buy $20.30 06/29/99 06/29/08 Common 46,892 -- 46,892 D
** Stock
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Right to Buy $21.84 1/19/00 01/19/09 Common 3,150 -- 3,150 D
** Stock
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Right to Buy $19.28 12/21/00 12/21/09 Common 3,150 -- 3,150 D
** Stock
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Right to Buy $30.60 01/31/02 01/31/11 Common 6,000 6,000 D
** Stock
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Right to Buy $40.12 02/04/03 02/04/12 Common 5,000 5,000 D
** Stock
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5.95% Convertible (1) (1) 3/11/32 Common 1,895 2,000 D
Trust Preferred (1) Stock
Securities of
Commerce Capital Trust II
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Right to Buy $42.80 2-18-03 *J 1,250 2/18/04 2/18/03 Common 1,250 -- 1,250 D
** Stock
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Right to Buy $42.80 2-18-03 *J 1,250 2/18/05 2/18/13 Common 1,250 -- 1,250 D
** Stock
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Right to Buy $42.80 2-18-03 *J 1,250 2/18/06 2/18/13 Common 1,250 -- 1,250 D
** Stock
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Right to Buy $42.80 2-18-03 *J 1,250 2/18/07 2/18/13 Common 1,250 -- 1,250 D
** Stock
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Explanation of Responses:
(1) Each 5.95% Convertible Trust Preferred Security (each a
"preferred security") is convertible at any time on or after the occurrence of
the events described below and prior to 5:00 p.m., New York City time, on the
business day immediately preceding the date of repayment of such preferred
security, whether at stated maturity (i.e. March 11, 2032) or upon redemption,
at the option of the holder thereof, into shares of Commerce Bancorp, Inc.'s
common stock at an initial conversion ratio of 0.9478 shares of Commerce
Bancorp, Inc. common stock for each preferred security, subject to adjustment
under certain circumstances. The preferred securities are convertible into
shares of Commerce Bancorp, Inc. common stock if: (a) the closing sale price of
Commerce Bancorp, Inc. common stock for at least 20 trading days in a period of
30 consecutive trading days ending on the last trading day of any calendar
quarter beginning with the quarter ending June 30, 2002 is more than 110% of the
preferred securities conversion price then in effect on the last day of such
calendar quarter, (b) the assigned credit rating by Moody's of the preferred
securities is at or below Bal, (c) the preferred securities are called for
redemption (which may occur on or prior to March 11, 2032), or (d) specified
corporate transactions have occurred as set forth in the Indenture dated March
11, 2002 between Commerce Bancorp, Inc. and The Bank of New York, as Debenture
Trustee.
*J Stock Options granted 2003
Explanation of Responses: *J Stock Options Granted 2003
/s/ Daniel J. Ragone 2/20/03
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
The filing of this Statement shall not be construed as an admission (a) that the
person filing this Statement is, for the purposes of Section 16 of the
Securities Exchange Act of 1934 (as amended), the beneficial owner of any equity
securities covered by this Statement, or (b) that this Statement is legally
required to be filed by such person.
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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