1. Name and Address of Reporting Person KING, TIMOTHY B. 209 Havemeyer Street Brooklyn, NY 11211 Kings 2. Issuer Name and Ticker or Trading Symbol Dime Community Bancshares, Inc. (DCOM) 3. IRS or Social Security Number of Reporting Person (Voluntary) 4. Statement for Month/Year 5/2002 5. If Amendment, Date of Original (Month/Day/Year) 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) ( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other (specify below) SENIOR VICE PRESIDENT 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 +---------------------------------+----------+-------------+-----------------------------+----------------+-----------+------------+ |1. Title of Security |2. Trans- |3. Trans- |4. Securities Acquired (A) |5. Amount of |6. Owner- |7. Nature | | | action | action | or Disposed of (D) | Securities | ship | of In- | | | Date | Code | | Beneficially | Form: | direct | | | | | | Owned at | Direct | Bene- | | | (Month/ | | | End of | (D) or | ficial | | | Day/ +-------+-----+-----------+------+----------+ Month | Indirect| Owner- | | | Year) |Code |V |Amount |A/D |Price | | (I) | ship | +---------------------------------+----------+-------+-----+-----------+------+----------+----------------+-----------+------------+ Common Stock 05/02/2002 M 7500 A $6.4500 D Common Stock 05/02/2002 D/K -1981 D $24.4200 D Common Stock 05/09/2002 M 3000 A $6.4500 D Common Stock 05/09/2002 S -3000 D $25.5000 54500 D Common Stock 11616 I 401(k) Plan Common Stock 25695 I ESOP Common Stock 0 I RRP Common Stock 10330 I BMP Common Stock 787 I OtherTABLE II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned +-------------+--------+----------+---------+-----------+---------------------+----------------+----------+--------+-------+-------+ |1. |2. |3. |4. |5. |6. |7. |8. |9. |10. |11. | | | | | | | | | |Number |Owner- | | | | | | | | | | |of |ship | | | | | | | | | | |Deriv- |Form of| | | | | | | | |Title and Amount| |ative |Deriv- | | | | | | | | |of Underlying | |Secur- |ative |Nature | | |Conver- | | |Number of | |Securities | |ities |Secur- |of | | |sion or | | |Derivative |Date Exercisable +-------+--------+ |Benefi- |ity: |In- | | |Exercise| | |Securities |and Expiration Date | |Amount | |cially |Direct |direct | | |Price of|Transac- |Transac- |Acquired(A)|(Month/Day/Year) | |or | |Owned |(D) or |Bene- | |Title of |Deriv- |tion Date |tion Code|Disposed(D)+----------+----------+ |Number |Price of |at End |In- |ficial | |Derivative |ative |(Month/ +------+--+-----+-----+Date Exer-|Expira- | |of |Derivative|of |direct |Owner- | |Security |Security|Day/Year) |Code |V |(A) |(D) |cisable |tion Date |Title |Shares |Security |Month |(I) |ship | +-------------+--------+----------+------+--+-----+-----+----------+----------+-------+--------+----------+--------+-------+-------+ Stock Options $6.45 05/02/2002 M 7500 12/26/1997 12/26/2006 Common 7500 $6.4500 D (Right to buy) Stock Stock Options $6.45 05/09/2002 M 3000 12/26/1997 12/26/2006 Common 3000 $6.4500 37500 D (Right to buy) Stock Stock Options $16.36 11/21/2011 Common 12000 D (Right to buy) Stock Explanation of Responses: SIGNATURE OF REPORTING PERSON /s/ TIMOTHY B. KING DATE 06/10/2002