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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001181431-09-010909.txt : 20090224
<SEC-HEADER>0001181431-09-010909.hdr.sgml : 20090224
<ACCEPTANCE-DATETIME>20090224132530
ACCESSION NUMBER:		0001181431-09-010909
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090223
FILED AS OF DATE:		20090224
DATE AS OF CHANGE:		20090224

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LERNER RICHARD M
		CENTRAL INDEX KEY:			0001140248

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22961
		FILM NUMBER:		09630241

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

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>rrd234509.xml
<DESCRIPTION>FORM 4 OF RICHARD M. LERNER (FEBRUARY 23, 2009)
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-02-23</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001140248</rptOwnerCik>
            <rptOwnerName>LERNER RICHARD M</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>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chairman &amp; CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2009-02-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1537</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>2.60</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>222983</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock option - (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.423</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
            </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>
        <derivativeHolding>
            <securityTitle>
                <value>Stock option - (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>4.144</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2012-12-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>33333</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>33333</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Options granted under the Annapolis National Bancorp, Inc. 2000 Stock Incentive Plan and are fully vested.</footnote>
        <footnote id="F2">Options granted under the Annapolis National Bancorp, Inc. 2000 Stock Incentive Plan vest in five equal annual installments commencing on December 31, 2003.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ RICHARD M. LERNER</signatureName>
        <signatureDate>2009-02-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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