X0202 4 2005-03-03 0 0000800082 ARGONAUT GROUP INC AGII 0001211084 WEAVER CHARLES W 10101 REUNION PLACE, STE 500 SAN ANTONIO TX 78216 0 1 0 0 Senior Vice President Common Stock 2005-03-03 4 M 0 6250 12.04 A 6250 D Common Stock 2005-03-03 4 M 0 5000 16.21 A 5000 D Common Stock 2005-03-03 4 S 0 9472 24.02 D 0 D Common Stock 2005-03-03 4 F 0 1778 24.01 D 0 D Stock Option (Right to Buy) 12.04 2005-03-03 4 M 0 6250 12.04 D 2014-05-14 Common Stock 6250 6250 D Stock Option (Right to Buy) 16.21 2005-03-03 4 M 0 5000 16.21 D 2011-02-02 Common Stock 5000 5000 D Stock Option (Right to Buy) 24.01 2005-03-03 4 A 0 605 24.01 A 2005-09-01 2011-02-02 Common Stock 605 605 D Sale of Common Stock issued upon exercise of Stock Options. Reflects sale of 1,778 shares previously owned by Mr. Weaver and used as full payment of the tax liability arising out of the exercise of the 11,250 options reflected on Table II. Granted under the Argonaut Group, Inc. Amended and Restated Stock Incentive Plan on May 14, 2003. Pursuant to the Plan, 25% of the options granted vest on each anniversary date of the grant such that the options fully vest in four years. Granted under the Argonaut Group, Inc. Amended and Restated Stock Incentive Plan on February 2, 2004. Pursuant to the Argonaut Group, Inc. Amended and Restated Stock Incentive Plan, the Company granted Mr. Weaver 605 new options exercisable in six months from the date of the grant in consideration of him using previously owned Common Stock of the Company in order to pay tax liability arising out of the 11,250 Options noted above. Byron L. LeFlore, Jr. 2005-03-04