X0304 4 2012-01-09 0 0001185348 PORTFOLIO RECOVERY ASSOCIATES INC PRAA 0001483984 McCammon Peter Kent 140 CORPORATE BLVD NORFOLK VA 23502 0 1 0 0 Pres.-Rev Enhancement Services Common Stock 2012-01-09 4 A 0 1237 0.00 A 10645 D These shares were granted pursuant to the Company's 2012 Long Term Equity Incentive Plan in which the reporting person was granted both performance based and time vested restricted shares. The time vested shares vest ratably over a three year period beginning on the anniversary of the grant which was January 9, 2012. These shares represent the total time vested shares granted. The performance shares earned, if any, will be reported at the end of the performance period. /s/ Peter K. McCammon 2012-01-11