X0305 4 2012-05-08 0000009346 BALDWIN & LYONS INC BWINA / B 0001017635 SHAPIRO ROBERT 71 RED OAK LANE HIGHLAND PARK IL 60035 1 0 1 0 Class A Common Stock 110250 D Class A Common Stock 755009 I Various Class B Common Stock 2012-05-08 4 A 0 1829 A 47643 D Class B Common Stock 1817140 I Various Owned by (a) Gelbart Fur Dressers (not Inc.), (178,500 shares of Class A and 714,000 shares of Class B) and Jay Ell Company (not Inc.), (41,250 shares of Class A and 165,000 shares of Class B) limited partnerships; (b) Diversified Enterprises (not Inc.), (178,125 shares of Class A and 559,500 shares of Class B) a general partnership; (c) Shapiro Family L.P. - Gift Share (353,250 shares of Class A and 360,875 shares of Class B); (d) The Lester and Edna Shapiro Foundation (17,765 shares of Class B) and (e) Emlin Cosmetics, Inc. (3,884 shares of Class A). Beneficial ownership is shared by the undersigned and other family members for all shares owned by these entities. Shares represent restricted stock granted in lieu of certain cash director's fees. Restrict stock vests and is distributable on May 8, 2013. G. Patrick Corydon on behalf of Robert Shapiro under power of attorney 2012-05-08