1. Name and Address of Reporting Person
PALAGIANO, VINCENT F.
209 Havemeyer Street
Brooklyn, NY 11211
Kings
2. Issuer Name and Ticker or Trading Symbol
Dime Community Bancshares, Inc. (DCOM)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
5/2002
5. If Amendment, Date of Original (Month/Day/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner
(X) Officer (give title below) ( ) Other (specify below)
Chairman and CEO
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
TABLE I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
+---------------------------------+----------+-------------+-----------------------------+----------------+-----------+------------+
|1. Title of Security |2. Trans- |3. Trans- |4. Securities Acquired (A) |5. Amount of |6. Owner- |7. Nature |
| | action | action | or Disposed of (D) | Securities | ship | of In- |
| | Date | Code | | Beneficially | Form: | direct |
| | | | | Owned at | Direct | Bene- |
| | (Month/ | | | End of | (D) or | ficial |
| | Day/ +-------+-----+-----------+------+----------+ Month | Indirect| Owner- |
| | Year) |Code |V |Amount |A/D |Price | | (I) | ship |
+---------------------------------+----------+-------+-----+-----------+------+----------+----------------+-----------+------------+
Common Stock 05/02/2002 M 10000 A $6.4500 D
Common Stock 05/02/2002 S -10000 D $24.0063 D
Common Stock 05/06/2002 M 10000 A $6.4500 D
Common Stock 05/06/2002 S -10000 D $25.0048 D
Common Stock 05/10/2002 M 7125 A $6.4500 D
Common Stock 05/10/2002 S -7125 D $26.0015 D
Common Stock 05/16/2002 M 2875 A $6.4500 D
Common Stock 05/16/2002 S -2875 D $26.0000 353749 D
Common Stock 46978 I 401(k) Plan
Common Stock 27804 I ESOP
Common Stock 0 I RRP
Common Stock 127024 I BMP
TABLE II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
+-------------+--------+----------+---------+-----------+---------------------+----------------+----------+--------+-------+-------+
|1. |2. |3. |4. |5. |6. |7. |8. |9. |10. |11. |
| | | | | | | | |Number |Owner- | |
| | | | | | | | |of |ship | |
| | | | | | | | |Deriv- |Form of| |
| | | | | | |Title and Amount| |ative |Deriv- | |
| | | | | | |of Underlying | |Secur- |ative |Nature |
| |Conver- | | |Number of | |Securities | |ities |Secur- |of |
| |sion or | | |Derivative |Date Exercisable +-------+--------+ |Benefi- |ity: |In- |
| |Exercise| | |Securities |and Expiration Date | |Amount | |cially |Direct |direct |
| |Price of|Transac- |Transac- |Acquired(A)|(Month/Day/Year) | |or | |Owned |(D) or |Bene- |
|Title of |Deriv- |tion Date |tion Code|Disposed(D)+----------+----------+ |Number |Price of |at End |In- |ficial |
|Derivative |ative |(Month/ +------+--+-----+-----+Date Exer-|Expira- | |of |Derivative|of |direct |Owner- |
|Security |Security|Day/Year) |Code |V |(A) |(D) |cisable |tion Date |Title |Shares |Security |Month |(I) |ship |
+-------------+--------+----------+------+--+-----+-----+----------+----------+-------+--------+----------+--------+-------+-------+
Stock Options $6.45 05/02/2002 M 10000 12/26/1997 12/26/2006 Common 10000 $6.4500 D
(Right to buy) Stock
Stock Options $6.45 05/06/2002 M 10000 12/26/1997 12/26/2006 Common 10000 $6.4500 D
(Right to buy) Stock
Stock Options $6.45 05/10/2002 M 7125 12/26/1997 12/26/2006 Common 7125 $6.4500 D
(Right to buy) Stock
Stock Options $6.45 05/16/2002 M 2875 12/26/1997 12/26/2006 Common 2875 $6.4500 505270 D
(Right to buy) Stock
Stock Options $16.36 11/21/2011 Common 112500 D
(Right to buy) Stock
Explanation of Responses:
SIGNATURE OF REPORTING PERSON
/s/ VINCENT F. PALAGIANO
DATE
06/10/2002