X0303 4 2010-02-17 1 0000859139 DELPHI FINANCIAL GROUP INC/DE DFG 0000897597 ROSENKRANZ ROBERT C/O DELPHI CAPITAL MANAGEMENT, INC. 590 MADISON AVENUE, 30TH FLOOR NEW YORK NY 10022 1 1 1 0 Chairman & CEO Options to purchase Class B Common Stock 21.24 2010-02-17 4 A 0 176553 A 2020-02-17 Class B Common Stock 176553 176553 D Deferred Class B Common Stock Share Units 2010-02-17 4 A 0 58851 A Class B Common Stock 58851 58851 D Options become exercisable in five equal annual installments, beginning on February 11, 2011. Not applicable. 1-for-1. The deferred share units are receivable or forfeited, as applicable, upon the occurrence of the applicable events described in the issuer's Company's Second Amended and Restated Long-Term Performance-Based Incentive Plan, as amended (the "Plan"), pursuant to which the award of the deferred share units was made, and are subject to the supplemental requirement that a retirement of the reporting person from employment that would otherwise entitle him to receive the underlying shares of Class B Common Stock under the Plan must occur on or after February 11, 2013. Such requirement will be eliminated in three equal annual installments beginning on February 11, 2011. Chad W. Coulter, Attorney-in-Fact for Robert Rosenkranz 2010-02-19