X0202 4 2007-07-02 0 0000109261 ZENITH NATIONAL INSURANCE CORP ZNT 0001238629 ROTHENBERG ALAN I 1ST CENTURY BANK, N.A. 1875 CENTURY PARK EAST, SUITE 1450 LOS ANGELES CA 90067 1 0 0 0 Phantom Stock 2007-07-02 4 A 0 564.08 47.09 A Common Stock 564.08 10694.27 D Each share of phantom stock is a deferred stock unit payable only in cash and is the economic equivalent of a share of the Issuer's common stock. Reporting Person's director compensation deferred into deferred stock units pursuant to the terms of the Zenith National Insurance Corp. 2003 Non-Employee Director Deferred Compensation Plan. Deferred stock units become payable upon the Reporting Person's termination of service as a diretor and are payable only in cash (not in stock) in a lump sum or in installments over five or ten years at the Reporting Person's election made at the time of the deferral. Earlier distribution of all or part of the deferred stock units may also be elected if such early distribution is after 24 months from the Reporting Person's election to defer his compensation into deferred stock units. /s/ Hyman J. Lee Jr., attorney in fact 2007-07-02