SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
X	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Ledbetter Reta Laurie (Last) (First) (Middle) C/O STATE NATIONAL COMPANIES, INC. 1900 L. DON DODSON DRIVE (Street) BEDFORD TX 76021 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol State National Companies, Inc. [ SNC ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 11/17/2017
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/17/2017		D(1)		4,195,582	D	$21(1)	0	I	By Trust
Common Stock	11/17/2017		D(1)		346,631(2)	D	$21(1)	123,266	D
Common Stock	11/17/2017		D		123,266(2)	D	$0.00	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Options	$10	11/17/2017		D(3)			1,473,333	(4)	06/25/2024	Common Stock	1,473,333	$11(3)	0	D

1. Name and Address of Reporting Person* Ledbetter Reta Laurie (Last) (First) (Middle) C/O STATE NATIONAL COMPANIES, INC. 1900 L. DON DODSON DRIVE (Street) BEDFORD TX 76021 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Ledbetter Terry Lee (Last) (First) (Middle) C/O STATE NATIONAL COMPANIES, INC. 1900 L. DON DODSON DRIVE (Street) BEDFORD TX 76021 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner X Officer (give title below) Other (specify below) Chief Executive Officer

1. Name and Address of Reporting Person* Terry Lee Ledbetter & Reta Laurie Ledbetter 2000 Revocable Trust, dated April 10, 2000, as amended (Last) (First) (Middle) C/O STATE NATIONAL COMPANIES, INC. 1900 L. DON DODSON DRIVE (Street) BEDFORD TX 76021 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. Disposed of pursuant to the Agreement and Plan of Merger ("merger agreement"), dated as of July 26, 2017, by and among Issuer, Markel Corporation and Markelverick Corporation for a cash payment of the per share price noted.

2. These shares are held directly by Terry Lee Ledbetter.

3. In connection with the closing under the merger agreement, each option was cancelled in the merger in exchange for a cash payment of $16,206,663, representing the difference between $21.00 and the exercise price.

4. The stock options vested in three equal annual installments beginning 06/25/2015.

Remarks:

	/s/ David M. Cleff, as Attorney in Fact for Reta Laurie Ledbetter	11/17/2017
	/s/ David M. Cleff, as Attorney in Fact for Terry Lee Ledbetter	11/17/2017
	/s/ David M. Cleff, as Attorney in Fact for Terry Lee Ledbetter and Reta Laurie Ledbetter in their capacity as co-trustees	11/17/2017
	** Signature of Reporting Person	Date
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