SEC FORM 4

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

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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^*

CHAN K P

(Last)

(First)

(Middle)

C/O NEWALLIANCE BANK

195 CHURCH ST.

(Street)

NEW HAVEN

06510

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
NEWALLIANCE BANCSHARES INC [ NAL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)	X	Other (specify below)
	EVP		Chief Risk Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/27/2008

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock⁽¹⁾								38,500	I	By Stock Award
Common Stock	06/27/2008		F		45⁽²⁾	D	$12.86	145	I	By Stock Award
Common Stock								30,525	I	Jointly with spouse
Common Stock (DRIP)								569	I	DRIP
Common Stock								5,073	I	ESOP
Common Stock								868	I	ESOP - SERP
Common Stock								355	I	401(K) - SERP

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options⁽³⁾	$13.89							06/26/2007	06/26/2016	Common Stock	1,250		1,250	D
Stock Options⁽⁴⁾	$14.39							12/31/2005	06/17/2015	Common Stock	130,000		130,000	D

Explanation of Responses:

1. Stock awards granted pursuant to the NewAlliance Bancshares, Inc. Long-term Incentive Plan vests 15% on each January 1 of years 2006 - 2011 and 10% on January 1, 2012.

2. Representing shares withheld by the issuer for tax liability purposes with respect to the vesting of and removal of restrictions on shares of Restricted Stock previously issued to the Reporting Person on June 26, 2006 vesting ratably on June 26, 2007, 2008 and 2009, by the Issuer under its 2005 Long-Term Compensation Plan.

3. Options vest in equal annual installments over three years beginning on the first anniversary of the grant date.

4. Stock Options granted pursuant to the NewAlliance Bancshares, Inc. Long-term Incentive Plan vest 40% on December 31, 2005 and 20% on the last business day of each of the three succeeding years.

Remarks:

	John J. Kiernan, by POA for Koon-Ping Chan	07/01/2008
	** 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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