------------------------------
OMB APPROVAL
------------------------------
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden
hours per response.........0.5
------------------------------
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(h) of the Investment Company Act of 1940
|_| Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
(Print of Type Responses)
________________________________________________________________________________
1. Name and Address of Reporting Person*
Videon, Sr., Frank C.
--------------------------------------------------------------------------------
(Last) (First) (Middle)
Frank C. Videon Funeral Home
Sproul & Lawrence Roads
--------------------------------------------------------------------------------
(Street)
Broomall, PA 19008
--------------------------------------------------------------------------------
(City) (State) (Zip)
________________________________________________________________________________
2. Issuer Name and Ticker or Trading Symbol
Commerce Bancorp, Inc. (CBH)
________________________________________________________________________________
3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)
177-14-8659
________________________________________________________________________________
4. Statement for Month/Day/Year
February 2003
________________________________________________________________________________
5. If Amendment, Date of Original (Month/Day/Year)
________________________________________________________________________________
6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
|X| Director |_| 10% Owner
|_| Officer (give title below) |_| Other (specify below)
------------------------
________________________________________________________________________________
7. 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
================================================================================
5.
Amount of 6.
4. Securities Owner-
Securities Acquired (A) or Beneficially ship
2A. 3. Disposed of (D) Owned Form: 7.
2. Deemed Transaction (Instr. 3, 4 and 5) Following Direct Nature of
Trans- Execution Code ------------------------------- Reported (D) or Indirect
1. action Date, if (Instr. 8) (A) Transaction(s) Indirect Beneficial
Title of Security Date any ------------ or (Instr. 3 & (I) Ownership
(Instr. 3) (mm/dd/yy) (mm/dd/yy) Code V Amount (D) Price Instr.4) (Instr.4) (Instr.4)
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 44,758 s/s D
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 28,917 s/s D Drip
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 6,300 s/s I Wife
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 11,573 s/s I Wife Drip
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 3,636 s/s I Videon
Crysler
Profit
Sharing
Trust
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 11,860 s/s I Videon
Crysler
Profit
Sharing
Trust
Drip
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 2,371 s/s I Videon
Chevrolet
Profit
Sharing
Plan
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 6,586 s/s I Videon
Chevrolet
Profit
Sharing
Trust
Drip
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 11,315 s/s I Videon
Dodge
EPST
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 21,122 s/s I Videon
Dodge
EPST-DRIP
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 7,728 s/s I Videon
Grand-
children
Trust
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 18,825 s/s I Videon
Grand-
children
Trust
Drip
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 3,137 s/s I Videon
Funeral
Home
Profit
Sharing
Plan
------------------------------------------------------------------------------------------------------------------------------------
Common Stock 14,111 s/s I Videon
Funeral
Home
Profit
Sharing
Plan
Drip
------------------------------------------------------------------------------------------------------------------------------------
====================================================================================================================================
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Over)
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
(Over)
Persons who respond to the collection of information contained in this form are
not required to respond unless the form displays a currently valid OMB control
number. SEC 1474 (9-02)
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
================================================================================
9.
Number 10.
of Owner-
deriv- ship
ative Form
2. Secur- of
Conver- 5. 7. ities Deriv- 11.
sion Number of Title and Amount Bene- ative Nature
or Derivative 6. of Underlying 8. ficially Secur- of
Exer- 3A. 4. Securities Date Securities Price Owned ity: In-
cise Deemed Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of Follow- Direct direct
Price 3. Execut- action or Disposed Expiration Date ---------------- Deriv- ing (D) or Bene-
1. of Trans- ion Code of(D) (Month/Day/Year) Amount ative Reported In- ficial
Title of Deriv- action Date if (Instr. (Instr. 3, ---------------- or Secur- Trans- direct Owner-
Derivative ative Date any 8) 4 and 5) Date Expira- Number ity action(s) (I) ship
Security Secur- (mm/dd/ (mm/dd/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity yy) yy) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
Right to Buy $4.40 05/18/93 05/18/03 Common 1,754 -- 1,754 D
** Stock
------------------------------------------------------------------------------------------------------------------------------------
Right to Buy $5.36 05/24/94 05/24/04 Common 1,668 -- 1,668 D
** Stock
------------------------------------------------------------------------------------------------------------------------------------
Right to Buy $5.82 06/20/95 06/20/05 Common 1,590 -- 1,590 D
** Stock
------------------------------------------------------------------------------------------------------------------------------------
Right to Buy $7.72 06/18/96 06/18/06 Common 1,516 -- 1,516 D
** Stock
------------------------------------------------------------------------------------------------------------------------------------
Right to Buy $12.82 06/17/97 06/17/07 Common 2,890 -- 2,890 D
** Stock
------------------------------------------------------------------------------------------------------------------------------------
Right to Buy $20.31 06/29/98 06/29/08 Common 11,020 -- 11,020 D
** Stock
------------------------------------------------------------------------------------------------------------------------------------
Right to Buy $21.84 01/19/99 01/19/09 Common 3,150 -- 3,150 D
** Stock
------------------------------------------------------------------------------------------------------------------------------------
Right to Buy $19.28 12/21/99 12/21/09 Common 3,150 -- 3,150 D
** Stock
------------------------------------------------------------------------------------------------------------------------------------
Right to Buy $30.60 01/31/01 01/31/11 Common 6,000 -- 6,000 D
** Stock
------------------------------------------------------------------------------------------------------------------------------------
5.95% (1) (1) 03/11/32 Common 1,895 2,000 I Employee
Convertible (1) Stock Profit
Trust Preferred Sharing
Securities of Trust
Commerce Capital
Trust II
------------------------------------------------------------------------------------------------------------------------------------
5.95% (1) (1) 03/11/32 Common 1,895 2,000 D
Convertible (1) Stock
Trust Preferred
Securities of
Commerce Capital
Trust II
------------------------------------------------------------------------------------------------------------------------------------
5.95% (1) (1) 03/11/32 Common 3,791 4,000 I Videon
Convertible (1) Stock Grand-
Trust Preferred children
Securities of Trust
Commerce Capital
Trust II
------------------------------------------------------------------------------------------------------------------------------------
Right to Buy $42.80 2/18/03 *J 1,250 02/18/04 02/18/13 Common 1,250 1,250 D
** Stock
------------------------------------------------------------------------------------------------------------------------------------
Right to Buy $42.80 2/18/03 *J 1,250 02/18/05 02/18/13 Common 1,250 1,250 D
** Stock
------------------------------------------------------------------------------------------------------------------------------------
Right to Buy $42.80 2/18/03 *J 1,250 02/18/06 02/18/13 Common 1,250 1,250 D
** Stock
------------------------------------------------------------------------------------------------------------------------------------
Right to Buy $42.80 2/18/03 *J 1,250 02/18/07 02/18/13 Common 1,250 1,250 D
** Stock
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
====================================================================================================================================
Explanation of Responses:
(1) Each 5.95% Convertible Trust Preferred Security (each a "preferred security") is convertible at any time on or after the
occurrence of the events described below and prior to 5:00 p.m., New York City time, on the business day immediately preceding
the date of repayment of such preferred security, whether at stated maturity (i.e. March 11, 2032) or upon redemption, at the
option of the holder thereof, into shares of Commerce Bancorp, Inc.'s common stock at an initial conversion ratio of 0.9478
shares of Commerce Bancorp, Inc. common stock for each preferred security, subject to adjustment under certain circumstances.
The preferred securities are convertible into shares of Commerce Bancorp, Inc. common stock if: (a) the closing sale price of
Commerce Bancorp, Inc. common stock for at least 20 trading days in a period of 30 consecutive trading days ending on the last
trading day of any calendar quarter beginning with the quarter ending June 30, 2002 is more than 110% of the preferred
securities conversion price then in effect on the last day of such calendar quarter, (b) the assigned credit rating by Moody's
of the preferred securities is at or below Bal, (c) the preferred securities are called for redemption (which may occur on or
prior to March 11, 2032), or (d) specified corporate transactions have occurred as set forth in the Indenture dated March 11,
2002 between Commerce Bancorp, Inc. and The Bank of New York, as Debenture Trustee.
*J Stock Options Granted 2003
/s/ Frank C. Videon, Sr. 2/20/03
--------------------------------------------- -----------------------
**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
The filing of this Statement shall not be construed as an admission (a) that the
person filing this Statement is, for the purposes of Section 16 of the
Securities Exchange Act of 1934 (as amended), the beneficial owner of any equity
securities covered by this Statement, or (b) that this Statement is legally
required to be filed by such person.
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
Page 2