SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* HERMANCE RONALD E JR (Last) (First) (Middle) WEST 80 CENTURY ROAD (Street) PARAMUS NJ 07652 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol HUDSON CITY BANCORP INC [ HCBK ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) Chairman, President & CEO
	3. Date of Earliest Transaction (Month/Day/Year) 10/25/2006
	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 Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01 per share	10/25/2006		M		100,000	A	$2.16	685,106	D
Common Stock, par value $0.01 per share								2,110,454	I	BY GRAT(6)
Common Stock, par value $0.01 per share								359,150	I	By PIB(2)
Common Stock, par value $0.01 per share								76,944	D(1)
Common Stock, par value $0.01 per share								46,896	I	By ESOP
Common Stock, par value $0.01 per share								28,854	I	By Spouse
Common Stock, par value $0.01 per share								13,618	I	By Spouse as Custodian(3)
Common Stock, par value $0.01 per share								3,013	I	By IRA

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$2.16	10/25/2006		M			100,000	01/13/2001	01/13/2010	Common Stock	100,000	$0	2,262,046	D
Stock Option (Right to Buy)	$12.76							(7)	07/21/2016	Common Stock	1,000,000		1,000,000	D
Stock Option (Right to Buy)	$3.4							09/13/2001	09/13/2011	Common Stock	411,801		411,801	D
Stock Option (Right to Buy)	$12.22							(4)	02/18/2014	Common Stock	641,199		641,199	D
Phantom Stock Units	$0(5)							(5)	(5)	Common Stock	103,942		103,942	D
Phantom Stock Units	$0(8)							(8)	(8)	Common Stock	23,494		23,494	D

Explanation of Responses:

1. Award to reporting person of 30,000 shares of common stock was made pursuant to the Hudson City Bancorp, Inc. 2000 Recognition and Retention Plan ("RRP"), which the stockholders approved at a Special Meeting of Stockholders of Hudson City Bancorp, Inc. held on January 13, 2000 ("Special Meeting"), effective February 19, 2004. The shares awarded were adjusted to reflect a 3.206-for-1 stock split on June 7, 2005 and on April 20, 2006, 19,236 shares vested and became directly owned by the reporting person. Such award will vest at a rate of 19,236 shares per year on each of April 20, 2007, 2008, 2009 and 2010.

2. The reporting person holds the shares through the Hudson City Savings Bank's Profit Incentive Bonus Plan at January 23, 2006.

3. The spouse of the reporting person holds the shares listed for a minor child under the New Jersey Uniform Transfer to Minors Act.

4. Grant to reporting person of options to buy 200,000 shares of common stock pursuant to the Hudson City Bancorp, Inc. 2000 Stock Option Plan, approved at the Special Meeting, was made effective February 19, 2004. The options awarded and the exercise price of those options were adjusted to reflect a 3.206-for-1 stock split on June 7, 2005 and 128,240 options vested and became exercisable on January 13, 2006. Options to buy 128,240 will vest and become exercisable on each of January 13, 2007, 2008, 2009 and 2010.

5. The reporting person is due, upon retirement, the equivalent dollar value of 103,942 shares on December 31, 2005 through the Hudson City Savings Bank ESOP Restoration Plan.

6. The shares reported are held in a grantor retained annuity trust for the benefit of the reporting person's spouse and children. The reporting person is the grantor. The reporting person's spouse serves as trustee.

7. Grant to the reporting person of options to buy 1,000,000 shares of common stock pursuant to the Hudson City Bancorp, Inc. 2006 Stock Incentive Plan, which the stockholders approved at the Annual Meeting of Stockholders of Hudson City Bancorp, Inc. held on June 8, 2006, was effective July 21, 2006. Such options will fully vest and become exercisable on July 21, 2009.

8. Phantom Stock acquired by the reporting person under the Hudson City Savings Bank Supplementary Savings Plan and the Hudson City Bancorp, Inc. Officers' Deferred Compensation Plan is distributed to the reporting person only in shares of Hudson City Bancorp, Inc. Common Stock and is distributable only on or about January 1st of the calendar year following the calendar year in which the reporting person terminates all service with Hudson City Bancorp, Inc. and its affiliated companies, unless another date of payment is provided under the terms of the Plans.

Remarks:

In addition, on July 21, 2006 the reporting person received a grant of Performance Stock Options to purchase 1,250,000 shares of Common Stock, par value $0.01 per share, at a price per share of $12.76. These options have a 10-year term ending July 21, 2016 (or earlier in certain circumstances) and become exercisable on December 31, 2008 provided that the reporting person remains in continuous service through such date and certain corporate performance measures tied to operating efficiency and credit qualify have been satisfied. Under applicable SEC regulations, these options are reportable in Table II of Form 4 only if and when the performance conditions have been satisfied.

	Louis J. Beierle, Attorney-in-fact	10/26/2006
	** 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).
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