AMERISAFE INC — Director's Dealing 2011

Mar 8, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMERISAFE INC (AMSF)
CIK: 0001018979
Period of Report: 2011-03-07

Reporting Person: Walker Todd Richard (EVP/General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-07	Common Stock, par value $.01	M	8500	$9.98	Acquired	12640	Direct
2011-03-07	Common Stock, par value $.01	S	5541	$20.3164	Disposed	7099	Direct
2011-03-08	Common Stock, par value $.01	M	11500	$9.98	Acquired	18599	Direct
2011-03-08	Common Stock, par value $.01	S	10975	$20.7545	Disposed	7624	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-07	Employee Stock Option (right to buy)	$9.98	M	8500	Disposed	2016-09-25	Common Stock, par value $.01 (8500)	Direct
2011-03-08	Employee Stock Option (right to purchase)	$9.98	M	11500	Disposed	2016-09-25	Common Stock, par value $.01 (11500)	Direct

Footnotes

F1: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.21 to $20.36, inclusive.

F2: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.35 to $21.06, inclusive.

F3: These options to purchase were issued on 09/25/2006, and vest yearly in five equal increments. On the date of this report 10,000 of the options remain unvested.