ARCH CAPITAL GROUP LTD. — Director's Dealing 2017

May 10, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARCH CAPITAL GROUP LTD. (ACGL)
CIK: 0000947484
Period of Report: 2017-05-08

Reporting Person: Papadopoulo Nicolas (CEO of Arch Reinsurance Group)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-08	Common Shares, $.0033 par value per share	M	25050	$23.10	Acquired	263574	Direct
2017-05-08	Common Shares, $.0033 par value per share	F	6012	$23.10	Disposed	257562	Direct
2017-05-08	Common Shares, $.0033 par value per share	A	7350	—	Acquired	264912	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-08	Share Appreciation Right	$23.10	M	25050	Disposed	2018-05-09	Common Shares, $.0033 par value per share (25050)	Direct
2017-05-08	Stock Option (right to buy)	$96.26	A	7350	Acquired	2028-05-08	Common Shares, $.0033 par value per share (7350)	Direct

Footnotes

F1: The share appreciation right became exercisable in three equal annual installments, commencing May 9, 2009, subject to the applicable award agreement.

F2: The stock option will become exercisable in three equal annual installments, with the first installment becoming exercisable on May 8, 2018 and the next two installments on May 8, 2019 and May 8, 2020, subject to the applicable award agreement.

F3: In connection with the exercise of the share appreciation rights award described in Table II, 6,012 common shares were disposed in satisfaction of the exercise price. The reporting person received a net issuance of 19,038 common shares.

F4: Represents restricted shares that vest in three equal annual installments on May 8th in each of 2018, 2019, and 2020, subject to the applicable award agreement.