X0202 4 2006-12-07 0 0001338949 CRM Holdings, Ltd. CRMH 0001347501 Scardino James C/O CRM HOLDINGS, LTD. PO BOX HM 2062 HAMILTON, HM HX, BERMUDA 0 1 0 0 Chief Financial Officer Common Shares 2006-12-07 4 A 0 9535 A 27943 D Shares granted to Reporting Person in the form of a restricted stock award under the 2005 Long-Term Incentive Plan, all of which shares will vest in three equal annual installments, commencing on the first anniversary of their date of grant. None of these shares is deemed outstanding under the laws of Bermuda until such shares vest. /s/ James Scardino by Louis J. Viglotti, Attorney-in-Fact 2006-12-11