McDonald Joseph F 4

4 · KNBT BANCORP INC · Filed Feb 5, 2008

Form 4

Period: 2008-02-01

SVP-Comptroller

Transactions

Disposition to Issuer
Common Stock
[F1]
2008-02-01−9,589→ 0 total
Disposition to Issuer
Common Stock
[F1]
2008-02-01−2,956→ 0 total(indirect: By IRA)
Disposition to Issuer
Common Stock
[F1]
2008-02-01−1,146.23→ 0 total(indirect: by ESOP)
Disposition to Issuer
Employee Stock Option (right to buy)
[F2]
2008-02-01−12,500→ 0 total
Exercise: $16.50From: 2005-05-06Exp: 2014-05-06→ Common Stock (12,500 underlying)
Disposition to Issuer
Employee Stock Option (right to buy)
[F3][F2]
2008-02-01−6,000→ 0 total
Exercise: $15.84From: 2006-01-24Exp: 2015-01-24→ Common Stock (6,000 underlying)
Disposition to Issuer
Employee Stock Option (right to buy)
[F4][F2]
2008-02-01−4,000→ 0 total
Exercise: $16.56From: 2007-01-23Exp: 2016-01-23→ Common Stock (4,000 underlying)
Disposition to Issuer
Employee Stock Option (right to buy)
[F5][F2]
2008-02-01−4,000→ 0 total
Exercise: $16.40From: 2008-01-26Exp: 2017-01-26→ Common Stock (4,000 underlying)

Footnotes (5)

[F1]Pursuant to the merger between KNBT Bancorp, Inc. (the "Issuer") and National Penn Bancshares ("NPBC") each share of the Issuer's common stock was converted to the right to receive 1.03 shares of NPBC common stock according to the provisions of the merger agreement.
[F2]The option which originally would vest over 5 years commencing on May 6, 2005 became fully exercisable on February 1, 2008 and was converted into an option to acquire 12,875 shares of NPBC common stock at $16.02 per share.
[F3]The option which originally would vest over 5 years commencing on January 24, 2006 became fully exercisable on February 1, 2008 and was converted into an option to acquire 6,180 shares of NPBC common stock at $15.38 per share.
[F4]The option which originally would vest over 5 years commencing on January 23, 2007 became fully exercisable on February 1, 2008 and was converted into an option to acquire 4,120 shares of NPBC common stock at $16.08 per share.
[F5]The option which originally would vest over 5 years commencing on January 26, 2008 became fully exercisable on February 1, 2008 and was converted into an option to acquire 4,120 shares of NPBC common stock at $15.93 per share.

Signature

/s/ Joseph F. McDonald by Michele A. Linsky/POA|2008-02-05

Documents

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