X0304 4/A 2012-03-03 2012-03-06 0 0001185348 PORTFOLIO RECOVERY ASSOCIATES INC PRAA 0001512630 Petit Michael J 140 CORPORATE BLVD NORFOLK VA 23502 0 1 0 0 President -Bankruptcy Services Common Stock 2012-03-03 4 A 0 7131 0.00 A 37152 D Common Stock 2012-03-03 4 F 0 3010 0.00 D 34142 D These shares were awarded pursuant to the Company's 2009 Long Term Equity Incentive Plan ("LTI Plan"). The shares reported on this form represent the shares earned under the Return on Shareholders' Equity and Total Shareholder Return performance categories as outlined in the Proxy Statement filed by Portfolio Recovery Associates, Inc. on April 20, 2009. The disposal of these shares are related to the vesting of an award originally granted pursuant to the Company's 2009 Long Term Equity Incentive Plan. Reason for Amendment: To correct the number of shares withheld to cover the tax liability of the reporting person related to this share award. /s/ Michael J. Petit 2012-03-21