SEC FORM 5

SEC Form 5

FORM 5

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Form 3 Holdings Reported.

Form 4 Transactions Reported.

1. Name and Address of Reporting Person^*

ABPLANALP JOHN P

(Last)

(First)

(Middle)

700 NEPPERHAN AVENUE

(Street)

YONKERS

10707

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
HUDSON VALLEY HOLDING CORP [ HUVL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2006

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. 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 (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	01/24/2005		G⁽¹⁾	301⁽¹⁾	A	$0.00	43,082	D
Common Stock	12/17/2005⁽²⁾		J⁽²⁾	4,308⁽²⁾	A	$0.00	47,390⁽³⁾	D
Common Stock	02/10/2006		S4	47,390⁽⁴⁾	D	$33.81	0	D
Common Stock	12/17/2005⁽²⁾		J⁽²⁾	76,263⁽²⁾	A	$0.00	838,895⁽³⁾	I	as co-executor of the Estate of Robert H. Abplanalp
Common Stock	02/06/2006		J⁽⁵⁾	838,895	D	$0.00	0	I	as co-executor of the Estate of Robert H. Abplanalp
Common Stock	12/17/2005⁽²⁾		J⁽²⁾	43,144⁽²⁾	A	$0.00	474,591⁽³⁾	I	by BMW Machinery (of which Reporting Person is a principal shareholder)
Common Stock	02/10/2006		J⁽⁶⁾	474,591	D	$0.00	0	I	by BMW Machinery (of which Reporting Person was a principal shareholder)
Common Stock	01/24/2005		G⁽⁷⁾	300⁽⁷⁾	A	$0.00	59,552	I	as trustee of 2 trusts for nieces
Common Stock	12/17/2005⁽²⁾		J⁽²⁾	5,954⁽²⁾	A	$0.00	65,506⁽³⁾	I	as trustee of 2 trusts for nieces
Common Stock	06/12/2006		J⁽⁸⁾	65,506	D	$0.00	0⁽⁸⁾	I	as trustee of 2 trusts for nieces
Common Stock	06/12/2006		J⁽⁹⁾	65,508⁽⁹⁾	A	$0.00	65,508⁽⁹⁾	I	by spouse as trustee of 2 trusts for minor children
Common Stock	09/19/2006		G⁽¹⁰⁾	512⁽¹⁰⁾	A	$0.00	66,020	I	by spouse as trustee of 2 trusts for minor children
Common Stock	12/15/2006⁽¹¹⁾		J⁽¹¹⁾	6,602⁽¹¹⁾	A	$0.00	72,622⁽¹²⁾	I	by spouse as trustee of 2 trusts for minor children
Common Stock	12/17/2005⁽²⁾		J⁽²⁾	346⁽²⁾	A	$0.00	3,815⁽³⁾	I	by 2 trusts for minor children
Common Stock	12/15/2006⁽¹¹⁾		J⁽¹¹⁾	380⁽¹¹⁾	A	$0.00	4,195⁽¹²⁾	I	by 2 trusts for minor children

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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Gift from mother of Reporting Person

2. Stock dividend of .10 share of common stock for each share held that was paid on 12/17/2005

3. Amount reflects stock dividend of .10 share of common stock for each share held that was paid on 12/17/2005

4. Sale of total direct holdings of Reporting Person to Marie Holcombe (sister of Reporting Person)

5. Transfer out of Estate of Robert H. Abplanalp to Marital Trust to which Reporting Person has no beneficial ownership

6. Reporting Person ceased to be a principal shareholder of BMW Machinery

7. Gift of 150 shares of stock from grandmother of Reporting Person to each of 2 trusts for nieces of which the Reporting Person is a trustee

8. Reporting Person ceased to be trustee of 2 trusts for nieces

9. Spouse of Reporting Person became trustee of 2 trusts for minor children on June 12, 2006

10. Gift of 256 shares of stock from grandmother of Reporting Person to each of 2 trusts for minor children of which the spouse of Reporting Person is the trustee

11. Stock dividend of .10 share of common stock for each share held that was paid on 12/15/2006

12. Amount reflects stock dividend of .10 share of common stock for each share held that was paid on 12/15/2006

Remarks:

	/s/ Stephen R. Brown (Stephen R. Brown as Attorney-in-Fact for John P. Abplanalp)	02/14/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.