X0303 4 2009-08-27 0 0000832480 UTG INC UTGN.OB 0001064892 CORRELL JESSE T P. O. BOX 328 STANFORD KY 40484 1 1 1 0 Chairman & CEO Common Stock 341997 I See Footnote Common Stock 72750 I See Footnote Common Stock 118308 D Common Stock 2009-08-27 4 S 0 20000 10.00 D 229069 I See Footnote Common Stock 2009-08-27 4 S 0 80000 10.00 D 1277716 I See Footnote Call Option (obligation to sell) 10.00 2009-08-27 4 S 0 100000 D 2009-08-27 2011-08-27 Common Stock 100000 100000 I See Footnote Call Option (obligation to sell) 10.00 2009-08-27 4 S 0 100000 D 2009-08-27 2012-08-27 Common Stock 100000 100000 I See Footnote Call Option (obligation to sell) 10.00 2009-08-27 4 S 0 100000 D 2009-08-27 2011-08-27 Common Stock 100000 100000 I See Footnote Call Option (obligation to sell) 10.00 2009-08-27 4 S 0 100000 D 2009-08-27 2012-08-27 Common Stock 100000 100000 I See Footnote The reported securities are held by First Southern Funding, LLC(FSF) of which the reporting person is President and manager. By WCorrell, Limited Partnership of which the reporting person is a managing general partner. The reported securities are held by First Southern Bancorp, Inc., of which the reporting person is Chairman and President. By First Southern Holdings, LLC, of which the reporting person is the President. On August 27, 2009, First Southern Bancorp, Inc. (FSB) and First Southern Holdings, LLC (FSH), individually and collectively, granted call options under which a total of 200,000 shares of the Issuer's common stock may be purchased. If the options are exercised, FSB and FSH, in their sole discretion, may determine the number of shares each of them will sell to the exercising optionee, up to the full 200,000 optioned shares. This call option was granted without the payment of any premium concurrently with the optionee's purchase of additional shares of the Issuer's common stock as reflected on Table I. Jill Martin, Attorney-in-Fact 2009-08-31