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*
CONNER DAVID E

(Last) (First) (Middle)
118 SECOND AVENUE SE
P.O. BOX 73909

(Street)
CEDAR RAPIDS IA 52407-3909

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
UNITED FIRE & CASUALTY CO [ UFCS ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
VP/Chief Claims Officer
3. Date of Earliest Transaction (Month/Day/Year)
02/15/2011
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)
Code V Amount (A) or (D) Price
Common Stock 02/15/2011 02/16/2011(1) P V(2) 6(3) A $19.73(4) 1,217(5) I By 401(k) Plan for Self
Common Stock 02/18/2011 A 1,875 A $20.54 3,101(6) D
Common Stock 287 I By Issuer's Employee Stock Ownership Plan for self
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) $20.54(7) 02/18/2011 A 4,559 (8) 02/18/2021 Common Stock 4,559 $0.00 4,559 D
Stock Option (right to buy) $22.42(7) (9) 05/19/2020 Common Stock 3,000 3,000 D
Stock Option (right to buy) $33.43(7) (10) 05/21/2018 Common Stock 4,485 4,485 D
Stock Option (right to buy) $35.23(7) (11) 02/16/2017 Common Stock 5,000 5,000 D
Stock Option (right to buy) $39.13(7) (12) 02/17/2016 Common Stock 2,500 2,500 D
Stock Option (right to buy) $32.39(7) (12) 02/18/2015 Common Stock 2,500 2,500 D
Stock Option (right to buy) $21.66(7) (12) 02/20/2014 Common Stock 1,000 1,000 D
Stock Option (right to buy) $15.85(7) (12) 02/21/2013 Common Stock 1,000 1,000 D
Explanation of Responses:
1. The deemed execution date of this transaction is the statement date as provided by the Company's 401(k)Plan trustee/administrator.
2. This transaction qualifies as a non-discretionary transaction from a tax-qualified plan and is voluntarily reported on Form 4.
3. Represents the approximate number of shares acquired by the trustee/administrator of the Company's 401(k) Plan for the reporting person's benefit, based on a statement of the trustee/administrator.
4. The price per share is based on a statement provided by the Company's 401(k) Plan trustee/administrator.
5. The number of securities shown as being held in or acquired by the Company 401(k) account for Mr. Conner's benefit are the approximate number of shares of common stock for which Mr. Conner has the right to direct the vote under the 401(k) plan. Such shares are not directly allocated to plan participants, but are instead held in a unitized fund consisting primarily of common stock, together with a small percentage of short-term investments. Participants acquire units of this fund.
6. The total number of securities beneficially held directly by the reporting person following the reported transaction includes: 1,875 shares of restricted stock issued under the Company's 2008 Stock Plan which vest, subject to certain conditions, on 02/18/2016 and 1,226 shares of restricted stock issued under the Company's 2008 Stock Plan which vest, subject to certain conditions on 05/21/2013.
7. The exercise price of these stock options represents the closing price of issuer's common stock on the grant date.
8. 4,559 options become exercisable in four equal installments of 912 options each on 02/18/2012, 02/18/2013, 02/18/2014 and 02/18/2015 and 911 options exercisable 02/18/2016.
9. 3,000 options become exercisable in five equal installments of 600 option shares each on 05/19/2011, 05/19/2012, 05/19/2013, 05/19/2014 and 05/19/2015.
10. 1,794 options currently exercisable and 2,691 options become exercisable in three equal installments of 897 options shares each on 05/21/2011, 05/21/2012 and 05/21/2013.
11. 4,000 options currently exercisable and 1,000 options become exercisable on 02/16/2012.
12. All options currently exercisable.
Remarks:
/s/ David E. Conner by Dianne M. Lyons, Attorney-in-Fact 02/22/2011
** 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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