| 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 |
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| 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*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
RLI CORP [ RLI ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 07/22/2013 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 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 | 07/22/2013 | M(1) | 700 | A | $30.51 | 700 | D | |||
| Common Stock | 07/22/2013 | M(1) | 700 | A | $39.09 | 1,400 | D | |||
| Common Stock | 07/22/2013 | M(1) | 750 | A | $33 | 2,150 | D | |||
| Common Stock | 07/22/2013 | M(1) | 800 | A | $30.81 | 2,950 | D | |||
| Common Stock | 07/22/2013 | M(1) | 2,800 | A | $29.9 | 5,750 | D | |||
| Common Stock | 07/22/2013 | F(1) | 3,307 | D | $85.0032 | 2,443 | D | |||
| Common Stock | 07/22/2013 | S(1) | 2,443 | D | $85.0032 | 0 | D | |||
| Common Stock | 8,714.6544 | I | Employee Stock Ownership Plan | |||||||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 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 | ||||||||
| Stock Option | $30.51(2)(3)(4) | 07/22/2013 | M(1) | 700 | 08/28/2007(5) | 08/28/2016 | Common Stock | 700 | $0 | 0 | D | ||||
| Stock Option | $39.09(2)(3)(4) | 07/22/2013 | M(1) | 700 | 05/03/2008(5) | 05/03/2017 | Common Stock | 700 | $0 | 0 | D | ||||
| Stock Option | $33(2)(3)(4) | 07/22/2013 | M(1) | 750 | 05/01/2009(5) | 05/01/2018 | Common Stock | 750 | $0 | 0 | D | ||||
| Stock Option | $30.81(2)(3)(4) | 07/22/2013 | M(1) | 800 | 03/02/2010(5) | 03/02/2019 | Common Stock | 800 | $0 | 200 | D | ||||
| Stock Option | $29.9(2)(3)(4) | 07/22/2013 | M(1) | 2,800 | 05/07/2010(5) | 05/07/2017 | Common Stock | 2,800 | $0 | 700 | D | ||||
| Stock Option | $39.34(2)(3)(4) | 05/06/2011(5) | 05/06/2018 | Common Stock | 4,500 | 4,500 | D | ||||||||
| Stock Option | $48.73(2)(3) | 05/05/2012(5) | 05/05/2019 | Common Stock | 6,000 | 6,000 | D | ||||||||
| Stock Option | $63.7(2) | 05/03/2013(5) | 05/03/2020 | Common Stock | 6,000 | 6,000 | D | ||||||||
| Stock Option | $71.84 | 05/02/2014(5) | 05/02/2021 | Common Stock | 8,000 | 8,000 | D | ||||||||
| Explanation of Responses: |
| 1. The transactions reported above in Table 1 reflect the broker-assisted cashless exercise of stock options. The transactions coded M report the number of shares issuable upon exercise of the options. The line coded F reports the number of shares which were deducted from the total number of shares issuable to pay the exercise price of such options (2,139 shares)and required taxes (1,168 shares). The line coded S reports the shares sold after payment of the exercise price and required taxes. The number of shares reported on the Code F and Code S lines were rounded to the nearest whole share and at an aggregate average price of $85.0032 on 07/22/13. |
| 2. Stock option grant price adjusted to reflect $5 extraordinary dividend declared 11/14/12. |
| 3. Stock Option grant price adjusted to reflect $5 RLI extraordinary dividend declared 11/17/11. |
| 4. Stock Option grant price adjusted to reflect $7 RLI extraordinary dividend paid 12/29/10. |
| 5. Pursuant to option schedule wherein 20% of the aggregate number of shares granted may be exercised commencing one year from grant date and each year thereafter in 20% increments. |
| /s/ Todd W. Bryant | 07/24/2013 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||