X0304 4 2012-03-06 0001267201 SeaBright Holdings, Inc. SBX 0001310740 Gergasko Richard J C/O SEABRIGHT HOLDINGS, INC. 1501 4TH AVENUE, SUITE 2600 SEATTLE WA 98101 1 Chief Operating Officer Common Stock 2012-03-06 4 G 0 26466 0 D 126979 D Common Stock 2012-03-06 4 G 0 26466 0 A 119175 I By trust The number of shares owned directly decreased (and the number of shares owned indirectly increased) by more than the amount of this transfer. Previous transfers from direct to indirect ownership of 32,591 shares on 7/30/09 and 22,009 shares on 4/27/10 occurred but were inadvertently not reported on a Form 4 filing. The reporting person has transferred these shares to a trust for the benefit of the reporting person, his spouse and his children. The reporting person and his spouse are trustees of the trust. /s/ Phil Romney, under power of attorney 2012-03-08