4 1 yatron2-03f4.txt 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* Yatron Stratton D. -------------------------------------------------------------------------------- (Last) (First) (Middle) 407 Tulpehocken Road -------------------------------------------------------------------------------- (Street) Reading PA 19601 -------------------------------------------------------------------------------- (City) (State) (Zip) ________________________________________________________________________________ 2. Issuer Name and Ticker or Trading Symbol NATIONAL PENN BANCSHARES, INC. (NPBC) ________________________________________________________________________________ 3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary) ________________________________________________________________________________ 4. Statement for Month/Day/Year February 12, 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) Group Executive 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 ================================================================================

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 185,~~969~~396.~~654~~ 337(1) D ------------------------------------------------------------------------------------------------------------------------- Common Stock 2/12/03 P 400 A 23.85 I Son's Trust ------------------------------------------------------------------------------------------------------------------------- Common Stock ~~976~~2/12/03 P 100 A 23.~~945~~84 (1),521 I ~~Spouse~~Son's ~~IRA~~Trust ------------------------------------------------------------------------------------------------------------------------- Common Stock 2/12/03 P 500 A 23.85 1,473 I Son's Trust ----------- -------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- =========================================================================================================================~~===========~~ Page 1 of 32

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- 4. Securities Date Securities Price Owned ity: In- cise Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of Follow- Direct direct Price 3. action or Disposed Expiration Date ---------------- Deriv- ing (D) or Bene- 1. of Trans- Code of(D) (Month/Day/Year) Amount ative Reported In- ficial Title of Deriv- action (Instr. (Instr. 3, ---------------- or Secur- Trans- direct Owner- Derivative ative Date 8) 4 and 5) Date Expira- Number ity action(s) (I) ship Security Secur- (mm/dd/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity yy) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) ---------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------- Stock ~~Option~~option ~~26.388~~Common 1/(2~~/03~~) ~~A V 1,094 1/2/05 1/2/2013 Common 1,094 1,094~~ D (Right to Buy) ~~(2) (3)~~ Stock ~~(4)~~---------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------- ============================================================================================================================ Page 2 of 3

Explanation of Responses: /s/ Stratton D. Yatron 2/14/03 --------------------------------------------- ----------------------- **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). Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. FORM 4 FOOTNOTES ---------------- Name of Reporting Person: Stratton D. Yatron Name of Issuer: National Penn Bancshares, Inc. Period Covered: February 14, 2003 Footnotes: (1) No reportable activity since last filing dated December 31, 2002. (2) Total options held, after adjustment for 5% stock dividend paid by the Company on December 27, 2002, are 1,022.

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