X0303 4 2011-06-30 0001005409 DIME COMMUNITY BANCSHARES INC DCOM 0001237106 PALAGIANO VINCENT F 209 HAVEMEYER STREET BROOKLYN NY 11211 1 1 Chairman and CEO Common Stock 2011-06-30 2011-06-30 4 X 0 20000 10.91 A 676480 D Common Stock 2011-06-30 2011-06-30 4 S 0 20000 14.50 D 656480 D Common Stock 2011-07-01 2011-07-01 4 X 0 20000 10.91 A 676480 D Common Stock 2011-07-01 2011-07-01 4 S 0 20000 14.75 D 656480 D Common Stock 0 I 401(k) Plan Common Stock 316323 I Bmp Common Stock 56897 I Esop Common Stock 0 I Restricted Stock Award Stock Options (Right to Buy) 10.91 2011-06-30 2011-06-30 4 X 0 20000 0 D 2002-11-21 2011-11-21 Common Stock 20000 112086 D Stock Options (Right to Buy) 10.91 2011-07-01 2011-07-01 4 X 0 20000 0 D 2002-11-21 2011-11-21 Common Stock 20000 92086 D This transaction was part of an authorized exercise of 20,000 options expiring in November 2011, and sale of the 20,000 exercised shares under a 10b5-1 selling plan executed by Mr. Palagiano on May 31, 2011. The transaction called for an exercise and sale only in the event a sale price of $14.50 could be met for the common stock. A portion of this transaction was completed on June 24, 2011, however, since the full 20,000 share exercise and sale was not completed until June 30, 2011, the shares sold on June 24, 2011 were temporarily funded from existing DCOM shares held in Mr. Palagiano's brokerage account, and his broker requested funding for the full 20,000 shares upon completing the authorized 20,000 share transaction on June 30, 2011. Since the instructions provided by Mr. Palagiano in his 10b5-1 plan clearly linked the exercise and sale, the full 20,000 share transaction is being reported as having occured on June 30, 2011. This transaction was an exercise of 20,000 options expiring in November 2011, and sale of the 20,000 exercised shares (in the event that a sales price of $14.75 could be realized on DCOM stock), that was part of a 10b5-1 plan executed by Mr. Palagiano on May 31, 2011. /s/ VINCENT F. PALAGIANO 2011-07-01