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^*

CAMNER ALFRED R

(Last)

(First)

(Middle)

255 ALHAMBRA CIRCLE

(Street)

CORAL GABLES

33134

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
BANKUNITED FINANCIAL CORP [ BKUNA ]

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

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chairman of the Board and CEO

3. Date of Earliest Transaction (Month/Day/Year)
05/02/2006

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)
Class B Common Stock	05/02/2006		C⁽¹⁾		28,500	D	$0⁽¹⁾	293,069	D
Class B Common Stock								42,266	I	By Trust For Descendants
Class B Common Stock								1,914	I	By Wife
Class B Common Stock								141,557	I	By Rabbi Trust
Class A Common Stock	05/02/2006		C⁽¹⁾		28,500	A	$0⁽¹⁾	32,092	D
Class A Common Stock	05/02/2006		S		2,000	D	$31.15	30,092	D
Class A Common Stock	05/02/2006		S		1,200	D	$31.1	28,892	D
Class A Common Stock	05/02/2006		S		6,500	D	$31.07	22,392	D
Class A Common Stock	05/02/2006		S		1,300	D	$31.042	21,092	D
Class A Common Stock	05/03/2006		S		17,500	D	$31.1	3,592	D
Class A Common Stock	05/02/2006		J⁽²⁾		3,592	D	$0	0⁽²⁾	I	By Mother⁽²⁾
Class B Common Stock	05/02/2006		J⁽²⁾		17,226	D	$0	0⁽²⁾	I	By Mother⁽²⁾

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)

Explanation of Responses:

1. On May 2, 2006, the Reporting Person converted 28,500 shares of Class B Common Stock into an equivalent number of shares of Class A Common Stock. For estate planning and tax purposes, the Reporting Person sold 11,000 of these shares of Class A Common Stock in four open market transactions on May 2, 2006 and the remaining 17,500 of these shares of Class A Common Stock in a single transaction on May 3, 2006. Each share of Class B Common Stock is convertible into one share of Class A Common Stock. Each Share of Class B Common Stock is entitled to one vote per share and each share of Class A Common Stock is entitled to one-tenth of a vote per share.

2. A durable power of attorney the Reporting Person had previously been granted to vote these shares was terminated. As a result, the Reporting Person's beneficial ownership has ceased.

	/s/ Alfred R. Camner	05/04/2006
	** 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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