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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
814181	Penn Treaty American Corp	PTYA	Accident & Health Insurance (6321)	231664166

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1271381	S Alan Parsow	2222 Skyline Drive Elkhorn NE 68022		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2012-05-11	20,000	$0.45	1,029,534	No	4	S	Indirect	See Ftnote 2
Common Stock	Disposition	2012-05-11	121,700	$0.45	907,834	No	4	S	Indirect	See Ftnote 2
Common Stock	Disposition	2012-05-11	68,999	$0.46	838,835	No	4	S	Indirect	See Ftnote 2
Common Stock	Disposition	2012-05-11	25,000	$0.47	813,835	No	4	S	Indirect	See Ftnote 2
Common Stock	Disposition	2012-05-11	100,000	$0.48	713,835	No	4	S	Indirect	See Ftnote 2
Common Stock	Disposition	2012-05-11	10,000	$0.49	703,835	No	4	S	Indirect	See Ftnote 2
Common Stock	Disposition	2012-05-11	104,301	$0.49	599,534	No	4	S	Indirect	See Ftnote 2
Common Stock	Disposition	2012-05-11	50,000	$0.51	549,534	No	4	S	Indirect	See Ftnote 2
Common Stock	Disposition	2012-05-11	2,500	$0.55	547,034	No	4	S	Indirect	See Ftnote 2

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	See Ftnote 2
No	4	S	Indirect	See Ftnote 2
No	4	S	Indirect	See Ftnote 2
No	4	S	Indirect	See Ftnote 2
No	4	S	Indirect	See Ftnote 2
No	4	S	Indirect	See Ftnote 2
No	4	S	Indirect	See Ftnote 2
No	4	S	Indirect	See Ftnote 2
No	4	S	Indirect	See Ftnote 2

Footnotes

Of the shares listed that are beneficially owned, the Alan S. Parsow IRA owns 23,500 and Elkhorn Partners LP owns the remaining shares.
Shares held by Elkhorn Partners LP ("Elkhorn"). The general partner of Elkhorn is Parsow Management LLC ("Parsow Management") and the sole manager of Parsow Management is Alan S. Parsow. As a result of these relationships, Parsow Management and Mr. Parsow may be deemed to have or share voting and/or investment power with respect to the shares held by or for the account of or benefit of Elkhorn. All information is based on the Schedule 13D/A executed by Elkhorn and filed with the Securities and Exchange Commission on September 13, 2011.