X0202 4 2008-02-29 1 0001127703 PROASSURANCE CORP PRA 0001194792 MORELLO JAMES J C/O PROASSURANCE CORPORATION 100 BROOKWOOD PLACE BIRMINGHAM AL 35209-6811 0 1 0 1 Treasurer Senior Vice-President Common Stock 2008-02-28 4 A 0 925 54.28 A 24255 D Employee Stock Option (Right to Buy) 54.28 2008-02-28 4 A 0 6250 54.28 A 2008-09-01 2018-09-01 Common Stock 6250 6250 D Employee Stock Option (Right to Buy) 51.48 2007-09-10 2017-09-10 Common Stock 6250 6250 D Employee Stock Option (Right to Buy) 51.38 2006-09-11 2016-09-11 Common Stock 6250 6250 D Employee Stock Option (Right to Buy) 41.15 2005-09-10 2015-09-10 Common Stock 12500 12500 D Employee Stock Option (Right to Buy) 33.28 2004-09-10 2014-09-10 Common Stock 5000 2500 D Employee Stock Option (Right to Buy) 22.00 2003-09-04 2013-03-04 Common Stock 2500 0 D Employee Stock Option (Right to Buy) 41.50 2006-06-29 2009-12-09 Common Stock 1531 1531 D Employee Stock Option (Right to Buy) 41.50 2006-06-29 2008-12-01 Common Stock 1801 1801 D Employee Stock Option (Right to Buy) 50.90 2007-11-08 2007-12-02 Common Stock 1861 0 D These shares are exempt under Rule 16b-3. Bonus shares awarded to the reporting person under the terms of the ProAssurance 2004 Equity Incentive Plan by the Compensation Committee of the Board of Directors. The Compensation Committee is comprised solely of independent, non-employee directors. The options vest in five equal, yearly installments commencing on September 1, 2008 The options vest in five equal, yearly installments commencing on September 10, 2007 The options vest in five equal, yearly installments commencing on September 11, 2006 The options vest in five equal, yearly installments commencing on September 10, 2005 The options vest in five equal, yearly installments commencing on September 10, 2004 The options vest in five equal, yearly installments commencing on September 4, 2003 These are automatic reload rights resulting from the exercise of options under an existing grant to purchase shares under the ProAssurance Corporation Incentive Compensation Stock Plan. These reload options vest one year from the date of grant, provided that the Reporting Person maintains ownership of the ProAssurance shares that were purchased upon the exercise of the subject options. The grant of reload options to purchase ProAssurance shares reported herein is exempt from Section 16(b) of the Securities Exchange Act, as amended ("the Act") by virtue of Rule 16v-3(d) promulgated under the Act. Frank B. O'Neil, POA for Jim Morello 2008-02-29