X0202 4 2004-11-29 0 0000793547 NAVIGATORS GROUP INC NAVG 0001242642 MARGARELLA SALVATORE A C/O THE NAVIGATORS GROUP INC ONE PENN PLZ. 55TH FL. NEW YORK NY 10119 0 1 0 0 Vice President & Treasurer Common Stock - $0.10 Par Value 2004-11-29 4 M 0 7500 14.25 A 7911 D Common Stock- $0.10 Par Value 2004-11-29 4 S 0 2000 28.06 D 5911 D Common Stock - $0.10 Par Value 2004-11-29 4 S 0 1877 28.06 D 4034 D Common Stock - $0.10 Par Value 2004-11-30 4 S 0 2000 28.25 D 2034 D Common Stock - $0.10 Par Value 2004-11-30 4 S 0 1623 28.26 D 411 D Common Stock - Options (right to buy) 14.25 2004-11-29 4 M 0 7500 0 D 2004-12-06 Common Stock 7500 0 D options to purchase Issuer's common stock $0.10 par value an option to purchase 7500 shares of the Issuer's common stock, par value $0.10 per share was issued to the Reporting Person under the Issuer's non-qualified stock option plan. One fourth of such option became exercisable on each of 12/31/95, 12/31/96, 12/31/97, 12/31/98. Salvatore A. Margarella 2004-11-30