ARCH CAPITAL GROUP LTD. — Director's Dealing 2014

May 15, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARCH CAPITAL GROUP LTD. (ACGL)
CIK: 0000947484
Period of Report: 2014-03-31

Reporting Person: IORDANOU CONSTANTINE (Director, Chairman, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-07	Common Shares, $.0033 par value per share	G	1762	—	Disposed	437393	Direct
2014-05-08	Common Shares, $.0033 par value per share	G	1467	—	Disposed	435926	Direct
2014-05-13	Common Shares, $.0033 par value per share	A	63000	—	Acquired	498926	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-03-31	Stock Option (right to buy)	$18.757	G	13672	Disposed	2016-02-23	Common Shares, $.0033 par value per share (303881)	Indirect
2014-03-31	Stock Option (right to buy)	$18.757	G	13672	Acquired	2016-02-23	Common Shares, $.0033 par value per share (13672)	Direct
2014-05-13	Share Appreciation Right	$57.27	A	63000	Acquired	2024-05-13	Common Shares, $.0033 par value per share (63000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares, $.0033 par value per share	83333	Indirect
Common Shares, $.0033 par value per share	116613	Indirect
Common Shares, $.0033 par value per share	11616	Indirect
Series C Non-Cumulative Preferred Shares (non-convertible)	6000	Direct
Series C Non-Cumulative Preferred Shares (non-convertible)	1800	Indirect

Footnotes

F1: The stock option became exercisable in three equal annual installments with the first installment being exercisable on February 23, 2007 and the second and third installments being exercisable on February 23, 2008 and February 23, 2009.

F2: On March 31, 2014, 13,672 stock options were distributed from a GRAT. Such options were previously reported as indirectly beneficially held by a GRAT. Following such distribution, the reporting person owns 146,119 stock options directly and 303,881 stock options indirectly by the GRAT.

F3: Represents a bona fide gift.

F4: Represents restricted shares that vest in three equal annual installments on May 13th in each of 2015, 2016 and 2017, subject to the applicable award agreement.

F5: The stock appreciation right will become 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.