AMERISAFE INC — Director's Dealing 2011

May 19, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMERISAFE INC (AMSF)
CIK: 0001018979
Period of Report: 2011-05-17

Reporting Person: BANTA GEOFFREY R (President and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-17	Common Stock, par value $.01	M	5000	$9.00	Acquired	5000	Direct
2011-05-17	Common Stock, par value $.01	S	5000	$22.25	Disposed	0	Direct
2011-05-18	Common Stock, par value $.01	M	5000	$9.00	Acquired	5000	Direct
2011-05-18	Common Stock, par value $.01	S	5000	$22.28	Disposed	0	Direct
2011-05-19	Common Stock, par value $.01	M	5000	$9.00	Acquired	5000	Direct
2011-05-19	Common Stock, par value $.01	S	2500	$22.57	Disposed	2500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-17	Employee Stock Option (right to buy)	$9.00	M	5000	Disposed	2015-11-17	Common Stock, par value $.01 (5000)	Direct
2011-05-18	Employee Stock Option (right to buy)	$9.00	M	5000	Disposed	2015-11-17	Common Stock (5000)	Direct
2011-05-19	Employee Stock Option (right to buy)	$9.00	M	5000	Disposed	2015-11-17	Common Stock (5000)	Direct

Footnotes

F1: The price shown is a weighted average price. The shares were sold at prices ranging from $22.25 to $22.29.

F2: The price shown is a weighted average price. The shares were sold at prices ranging from $22.25 to $22.32.

F3: The price shown is a weighted average price. The shares were sold at prices ranging from $22.50 to $22.65.