X0202 4 2007-03-13 0001064863 AMERIGROUP CORP AGP 0001024376 CARLSON JAMES G 4425 CORPORATION LANE VIRGINIA BEACH VA 23462 1 President Common Stock 2007-03-13 4 A 0 9905 0 A 15418 D Employee Stock Option (right to buy) 32.74 2007-03-13 4 A 0 50824 0 A 2010-12-31 2014-03-13 Common Stock 50824 50824 D Employee Stock Option (right to buy) 36.01 2007-03-13 4 A 0 12396 0 A 2010-12-31 2014-03-13 Common Stock 12396 12396 D The transaction is a grant of Restricted Stock, which shall vest over four (4) years, with twenty-five percent (25%) vesting on each anniversary of the Date of Grant (March 13, 2007), such that all of the shares of Restricted Stock shall be vested on the fourth anniversary of the Date of Grant (March 13, 2011). The transaction is a grant of restricted stock for which no consideration was paid. The price reflects the closing price on the last trading day immediately preceding the date of grant. The Option shall become vested as to six and one-quarter percent (6.25%) on March 31, 2007 and, an additional six and one-quarter percent (6.25%) of the Option Shares quarterly thereafter, such that the Option shall become fully (100%) vested on December 31, 2010. Options expire 7 years from the date of grant except upon separation, whereupon options expire 90 days thereafter. No consideration was paid for the option. The price reflects 110% of the closing price on the last trading day immediately preceding the date of grant. Options expire 7 years from the date of grant. Upon separation, vested options may be exercised for 2 years thereafter, not to exceed 7 years from the date of grant. James G. Carlson 2007-03-15