ARCH CAPITAL GROUP LTD. — Director's Dealing 2014

Sep 12, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARCH CAPITAL GROUP LTD. (ACGL)
CIK: 0000947484
Period of Report: 2014-09-10

Reporting Person: Hutchings W Preston (SVP & Chief Investment Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-09-10	Common Shares, $.0033 par value per share	M	100000	$15.113	Acquired	211005	Indirect
2014-09-10	Common Shares, $.0033 par value per share	F	27736	$54.49	Disposed	183269	Indirect
2014-09-11	Common Shares, $.0033 par value per share	S	27500	$54.38	Disposed	155769	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-09-10	Stock Option (right to buy)	$15.113	M	100000	Disposed	2015-07-01	Common Shares, $.0033 par value per share (100000)	Indirect
2014-08-18	Share Appreciation Right	$23.7070	G	15750	Disposed	2017-05-11	Common Shares, $.0033 par value per share (15750)	Direct
2014-08-18	Share Appreciation Right	$23.7070	G	15750	Acquired	2017-05-11	Common Shares, $.0033 par value per share (15750)	Indirect
2014-08-18	Share Appreciation Right	$23.10	G	18000	Disposed	2018-05-09	Common Shares, $.0033 par value per share (18000)	Direct
2014-08-18	Share Appreciation Right	$23.10	G	18000	Acquired	2018-05-09	Common Shares, $.0033 par value per share (18000)	Indirect
2014-08-18	Share Appreciation Right	$19.2930	G	15300	Disposed	2019-05-06	Common Shares, $.0033 par value per share (15300)	Direct
2014-08-18	Share Appreciation Right	$19.2930	G	15300	Acquired	2019-05-06	Common Shares, $.0033 par value per share (15300)	Indirect
2014-08-18	Share Appreciation Right	$25.01	G	16500	Disposed	2020-05-05	Common Shares, $.0033 par value per share (16500)	Direct
2014-08-18	Share Appreciation Right	$25.01	G	16500	Acquired	2020-05-05	Common Shares, $.0033 par value per share (16500)	Indirect
2014-08-18	Share Appreciation Right	$33.9130	G	16800	Disposed	2021-05-06	Common Shares, $.0033 par value per share (16800)	Direct
2014-08-18	Share Appreciation Right	$33.9130	G	16800	Acquired	2021-05-06	Common Shares, $.0033 par value per share (16800)	Indirect
2014-08-18	Share Appeciation Right	$38.58	G	16800	Disposed	2022-05-09	Common Shares, $.0033 par value per share (16800)	Direct
2014-08-18	Share Appreciation Right	$38.58	G	16800	Acquired	2014-05-09	Common Shares, $.0033 par value per share (16800)	Indirect
2014-08-18	Share Appreciation Right	$42.65	G	16100	Disposed	2022-11-12	Common Shares, $.0033 par value per share (16100)	Direct
2014-08-18	Share Appreciation Right	$42.65	G	16100	Acquired	2022-11-12	Common Shares, $.0033 par value per share (16100)	Indirect
2014-08-18	Share Appreciation Right	$53.53	G	12547	Disposed	2023-05-09	Common Shares, $.0033 par value per share (12547)	Direct
2014-08-18	Share Appreciation Right	$53.53	G	12547	Acquired	2023-05-09	Common Shares, $.0033 par value per share (12547)	Indirect
2014-08-08	Share Appreciation Right	$57.27	G	10000	Disposed	2014-05-13	Common Shares, $.0033 par value per share (10000)	Direct
2014-08-18	Share Appreciation Right	$57.27	G	10000	Acquired	2024-05-13	Common Shares, $.0033 par value per share (10000)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares, $.0033 par value per share	40057	Direct
Series C Non-Cumulative Preferred Shares (non-convertible)	4000	Indirect

Footnotes

F1: The shares are held by a company which is owned by a family trust; beneficiaries of the family trust are the reporting person, his spouse and their children.

F2: The stock option became exercisable in three equal annual installments, commencing July 1, 2005, subject to the applicable award agreement.

F3: The stock appreciation right became exercisable in three equal annual installments, with the first installment becoming exercisable on May 11, 2008 and the next two installments on May 11, 2009 and May 11, 2010, subject to the applicable award agreement.

F4: The stock appreciation right became exercisable in three equal annual installments, with the first installment becoming exercisable on May 9, 2009 and the next two installments on May 9, 2010 and May 09, 2011, subject to the applicable award agreement.

F5: The stock appreciation right became exercisable in three equal annual installments, with the first installment becoming exercisable on May 6, 2010 and the next two installments on May 6, 2011 and May 6, 2012, subject to the applicable award agreement.

F6: The stock appreciation right became exercisable in three equal annual installments, with the first installment becoming exercisable on May 5, 2011 and the next two installments on May 5, 2012 and May 5, 2013, subject to the applicable award agreement.

F7: The stock appreciation right became exercisable in three equal annual installments, with the first installment becoming exercisable on May 6, 2012 and the next two installments on May 6, 2013 and May 6, 2014, subject to the applicable award agreement.

F8: The stock appreciation right becomes exercisable in three equal annual installments, with the first installment becoming exercisable on May 9, 2013 and the next two installments on May 9, 2014 and May 9, 2015, subject to the applicable award agreement.

F9: The stock appreciation right becomes exercisable on the fifth anniversary of the grant date, subject to the applicable award agreement.

F10: The stock appreciation right becomes exercisable in three equal annual installments, with the first installment becoming exercisable on May 9, 2014 and the next two installments on May 9, 2015 and May 9, 2016, subject to the applicable award agreement.

F11: The stock appreciation right becomes exercisable in three equal annual installments, with the first installment becoming exercisable on May 13, 2015 and the next two installments on May 13, 2016 and May 13, 2017, subject to the applicable award agreement.

F12: On September 10, 2014, the Reporting Person exercised 100,000 stock options and, under the net settlement provisions of the applicable stock option agreement, 27,736 common shares were withheld in payment of the exercise price.

F13: Represents a weighted average sales price; the sale prices range from $54.16 to 54.53. Upon request, the full sale information regarding the number of shares sold at each price increment will be provided to the Commission or to the security holder of the issuer.