X0303 4 2009-03-15 0 0000783603 AMERICAN SAFETY INSURANCE HOLDINGS LTD ASI 0001345760 William Clarence Tepe 44 CHURCH STREET P.O. BOX HM 2064 HAMILTON D0 HM 11 BERMUDA 0 1 0 0 CFO Common Stock 2009-03-31 4 A 0 7322 11.51 A 14200 D Stock Option 16.18 2009-03-31 4 D 0 25000 16.18 D 2009-03-31 2009-03-31 Common Stock 25000 0 D Stock Option 19.05 2009-03-31 4 D 0 7500 19.05 D 2009-03-31 2009-03-31 Common Stock 7500 0 D Stock Option 17.95 2009-03-31 4 D 0 7500 17.95 D 2009-03-31 2009-03-31 Common Stock 7500 0 D Stock Option 17.95 2009-03-31 4 D 0 11766 17.95 D 2009-03-31 2009-03-31 Common Stock 11766 0 D Stock Option 9.10 2009-03-31 4 D 0 14589 9.10 D 2009-03-31 2009-03-31 Common Stock 14589 0 D Shares issued as part of the Company's 2008 Long-Term Incentive Plan. Scheduled vesting was accelerated to vest on 03-31-2009 as part of the 03-15-2009 Separation Agreement. Stock options forfeited as part of the 03-15-2009 Separation Agreement. /s/ William C. Tepe 2009-10-28