X0306 4 2013-12-05 0 0001069996 FEDERATED NATIONAL HOLDING CO FNHC 0001347447 Braun Michael H 14050 N.W. 14 STREET SUITE 180 SUNRISE FL 33323 1 1 0 0 Chief Executive Officer & Pres Common Stock, par value $0.01 per share 2013-12-05 4 M 0 500 13.17 A 143400 D Common Stock, par value $0.01 per share 2013-12-05 4 F 0 491 13.55 D 142909 D Common Stock, par value $0.01 per share 2013-12-05 4 M 0 4500 12.58 A 147409 D Common Stock, par value $0.01 per share 2013-12-05 4 F 0 4257 13.55 D 143152 D Stock Options (right to buy) 13.17 2013-12-05 4 M 0 500 0 D 2008-12-06 2013-12-06 Common Stock, par value $0.01 per share 500 0 D Stock Options (right to buy) 12.58 2013-12-05 4 M 0 4500 0 D 2009-01-30 2014-01-30 Common Stock, par value $0.01 per share 4500 0 D Stock Options (right to buy) 8.32 2009-07-01 2014-07-01 Common Stock, par value $0.01 per share 40000 40000 D Stock Options (right to buy) 4.59 2009-12-12 2018-12-12 Common Stock, par value $0.01 pre share 500 500 D Stock Options (right to buy) 4.73 2010-01-02 2015-01-02 Common Stock, par value $0.01 per share 40000 40000 D Stock Options (right to buy) 4.36 2011-03-03 2020-03-03 Common Stock, par value $0.01 per share 15000 15000 D Stock Options (right to buy) 2.45 2012-08-22 2021-08-22 Common Stock, par value $0.01 per share 10000 10000 D Stock Options (right to buy) 4.40 2013-04-06 2022-04-06 Common Stock, par value $0.01 15000 15000 D Represents a "net exercise" of vested stock options. There was no open market sale of shares by the reporting person. A total of 491 shares were withheld by Issuer for payment of the exercise price and applicable taxes, and the net exercise resulted in 9 shares being issued by the Issuer to the reporting person. Closing market price of Federated National Holding Company common stock on the respective transaction date. 125,000 of the total shares are restricted shares subject to vesting under the Issuer's 2012 Stock Incentive Plan. Represents a "net exercise" of vested stock options. There was no open market sale of shares by the reporting person. A total of 4,257 shares were withheld by Issuer for payment of the exercise price and applicable taxes, and the net exercise resulted in 243 shares being issued by the Issuer to the reporting person. Stock options vest 20% per year. Stock options vest 33 1/3% per year. /s/ Michael H. Braun 2013-12-09