SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES 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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1. Name and Address of Reporting Person* Rinaldi Salvatore J (Last) (First) (Middle) C/O SOVEREIGN BANCORP, INC. 1130 BERKSHIRE BOULEVARD (Street) WYOMISSING PA 19610 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 03/20/2007	3. Issuer Name and Ticker or Trading Symbol SOVEREIGN BANCORP INC [ SOV ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Chief of Staff & EVP	5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common stock	16,891	D
Common stock (bonus recognition and retention program)	5,180	D
Common stock (restricted, subject to vesting)	28,600	D
Common stock	2,971	I	ESOP
Common stock	9,559	I	401(k)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee stock options (right to buy)	09/19/1998	09/19/2007	Common stock	5,040	$12.7	D
Employee stock options (right to buy)	02/18/1999	02/18/2008	Common stock	3,780	$15.57	D
Employee stock options (right to buy)	09/17/1999	09/17/2008	Common stock	2,625	$12.74	D
Employee stock options (right to buy)	01/28/2001	01/28/2010	Common stock	1,575	$6.4	D
Employee stock options (right to buy)	(1)	01/28/2010	Common stock	3,675	$6.4	D
Employee stock options (right to buy)	10/19/2001	10/19/2010	Common stock	2,527	$7.56	D
Employee stock options (right to buy	10/10/2001	10/19/2010	Common stock	8,332	$7.56	D
Employee stock options (right to buy)	10/19/2001	10/19/2010	Common stock	4,892	$7.56	D
Employee stock options (right to buy)	12/21/2001	12/21/2010	Common stock	2,100	$7.35	D
Employee stock options (right to buy)	01/23/2002	01/18/2011	Common stock	11,729	$7.86	D
Employee stock options (right to buy)	01/23/2002	02/18/2011	Common stock	8,273	$7.86	D
Employee stock options (right to buy)	01/23/2002	01/18/2011	Common stock	999	$7.86	D
Employee stock options (right to buy)	01/23/2003	02/23/2012	Common stock	18,674	$12.16	D
Employee stock options (right to buy)	02/19/2008	03/18/2013	Common stock	26,250	$12.48	D

Explanation of Responses:

1. 1/3 of the options vested on 01/28/2001, one third on 01/28/2002, and the remaining third on 01/28/2003

Remarks:

	John E. Benz, Attorney-In-Fact	03/27/2007
	** 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 5 (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.
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