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Filing Details

Accession Number:: 0001194794-10-000013
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-03-01 12:00:00
Reporting Period:: 2010-02-26

Filing Date:: 2010-03-01
Accepted Time:: 2010-03-01 19:36:25
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1127703	Proassurance Corp	PRA	Fire, Marine & Casualty Insurance (6331)	631261433

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1194768	T Victor Adamo	C/O Proassurance Corporation 100 Brookwood Place Birmingham AL 35209-6811	President	Yes	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2010-03-01	111	$53.95	46,343	No	4	P	Direct
Common Stock	Acquisiton	2010-02-26	3,800	$53.32	46,232	No	4	A	Direct
Common Stock	Acquisiton	2010-02-26	3,750	$53.32	42,432	No	4	A	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	P	Direct
No	4	A	Direct
No	4	A	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Restricted Share Units	$0.00			2,500	2,500	Direct
Common Stock	Employee Stock Option (Right to Buy)	$54.28	2008-09-01	2018-09-01	15,000	15,000	Direct
Common Stock	Employee Stock Option (Right to Buy)	$51.48	2007-09-10	2017-09-10	15,000	15,000	Direct
Common Stock	Employee Stock Option (Right to Buy)	$51.38	2006-09-11	2016-09-11	15,000	15,000	Direct
Common Stock	Employee Stock Option (Right to Buy)	$41.15	2005-09-10	2015-09-10	37,500	37,500	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	2,500	2,500	Direct
2018-09-01	15,000	15,000	Direct
2017-09-10	15,000	15,000	Direct
2016-09-11	15,000	15,000	Direct
2015-09-10	37,500	37,500	Direct

Footnotes

Shares acquired in the amended and restated ProAssurance Stock Ownership Plan. Purchases under this plan are exempt under Rule 16b-3(c)
These shares are exempt under Rule 16b-3. Bonus shares awarded to the reporting person under the terms of the ProAssurance 2008 Equity Incentive Plan by the Compensation Committee of the Board of Directors. The Compensation Committee is comprised solely of independent, non-employee directors
Payout of Performance Shares awarded to the reporting person upon completion of a three year performance period at year-end 2009. The Compensation Committee (consisting entirely of independent directors) of the ProAssurance Corporation Board of Directors reviewed the company's performance against the defined criteria and approved this award.
Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of ProAssurance Corporation common stock, issueable from the ProAssurance 2008 Equity Incentive Plan. The RSUs will vest if the reporting person remains continuously employed by ProAssurance or one of its subsidiaries until February 26, 2012 (three years from date of grant). Vesting will accelerate upon termination of employment as the result of (i) death; (ii) disability; or (iii) Good Reason, as defined in the reporting person's employment agreement with ProAssurance Corporation, or by action of the Compensation Committee of the ProAssurance Corporation Board of Directors. The RSUs will be settled in shares of ProAssurance Common Stock and in cash, with the cash portion being approximately equal to the federal, state, and local taxes.
The options vest in five equal, yearly installments commencing on September 1, 2008
The options vest in five equal, yearly installments commencing on September 10, 2007
The options vest in five equal, yearly installments commencing on September 11, 2006
The options vest in five equal, yearly installments commencing on September 10, 2005