X0202 4/A 2006-02-23 2006-02-27 0 0000947484 ARCH CAPITAL GROUP LTD. ACGL 0001345284 Papadopoulo Nicolas C/O ARCH REINSURANCE LTD., WESSEX HOUSE 45 REID STREET, 3RD FLOOR HAMILTON D0 HM 12 BERMUDA 0 0 0 1 Officer of Subsidiary Common Shares, $.01 par value per share 2006-02-23 4 A 0 1500 A 34571 D Stock Option (right to buy) 56.27 2006-02-23 4 A 0 10000 A 2016-02-23 Common Shares, $.01 par value per share 10000 10000 D Represents restricted shares that vest in three equal annual installments on February 23rd in each of 2007, 2008 and 2009, subject to the applicable award agreement. The stock option will become exercisable in three equal annual installments, with the first installment becoming exercisable on February 23, 2007 and the next two installments on February 23, 2008 and 2009. /s/ Nicolas Papadopoulo 2006-03-17