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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001181431-09-004906.txt : 20090127
<SEC-HEADER>0001181431-09-004906.hdr.sgml : 20090127
<ACCEPTANCE-DATETIME>20090127123346
ACCESSION NUMBER:		0001181431-09-004906
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090123
FILED AS OF DATE:		20090127
DATE AS OF CHANGE:		20090127

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SCHWARTZ LAWRENCE W
		CENTRAL INDEX KEY:			0001215268

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22961
		FILM NUMBER:		09547366

	MAIL ADDRESS:	
		STREET 1:		1000 BESTGATE RD
		CITY:			ANNAPOLIS
		STATE:			MD
		ZIP:			21401

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ANNAPOLIS BANCORP INC
		CENTRAL INDEX KEY:			0001041429
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				521648903
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1000 BESTGATE ROAD
		CITY:			ANNAPOLIS
		STATE:			MD
		ZIP:			21401
		BUSINESS PHONE:		4102244455

	MAIL ADDRESS:	
		STREET 1:		1000 BESTGATE ROAD
		CITY:			ANNAPOLIS
		STATE:			MD
		ZIP:			21401

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ANNAPOLIS NATIONAL BANCORP INC
		DATE OF NAME CHANGE:	19970620
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd231046.xml
<DESCRIPTION>FORM 4 OF LAWRENCE W. SCHWARTZ (JANUARY 23, 2009)
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-01-23</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001041429</issuerCik>
        <issuerName>ANNAPOLIS BANCORP INC</issuerName>
        <issuerTradingSymbol>ANNB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001215268</rptOwnerCik>
            <rptOwnerName>SCHWARTZ LAWRENCE W</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O BANKANNAPOLIS</rptOwnerStreet1>
            <rptOwnerStreet2>1000 BESTGATE ROAD</rptOwnerStreet2>
            <rptOwnerCity>ANNAPOLIS</rptOwnerCity>
            <rptOwnerState>MD</rptOwnerState>
            <rptOwnerZipCode>21401</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2009-01-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>21726</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>11000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Cust for SEP</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>345</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Joint tenancy w/daughter</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3154</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Cust for Minors</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.423</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2010-04-28</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>8888</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8888</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Restricted share units granted under the Annapolis Bancorp, Inc. 2006 Stock Incentive Plan valued at $5,000 that will vest on January 23, 2010.  The number of shares of Annapolis Bancorp, Inc. common stock acquired by the Reporting Person will be based on $5,000 value divided by the per share closing price of the common stock on February 20, 2009 (with cash in lieu of fractional shares).</footnote>
        <footnote id="F2">Includes 650 shares of Annapolis Bancorp, Inc. common stock underlying the restricted share units granted on January 18, 2008 under the Annapolis Bancorp, Inc. 2006 Stock Incentive Plan that vested 100% on January 18, 2009.  Does not include the number of shares of common stock underlying the restricted share units granted on January 23, 2009, which will be based on $5,000 value divided by the per share closing price of the common stock on February 20, 2009.</footnote>
        <footnote id="F3">Option granted under the Annapolis National Bancorp, Inc. 2000 Stock Incentive Plan vested in five equal annual installments commencing on April 28, 2001 and, therefore, is currently exercisable.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ MARGARET THEISS FAISON by Power of Attorney for Lawrence W. Schwartz</signatureName>
        <signatureDate>2009-01-27</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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