ATLANTIC AMERICAN CORP — Director's Dealing 2007

Jul 10, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ATLANTIC AMERICAN CORP (AAME)
CIK: 0000008177
Period of Report: 2007-07-02

Reporting Person: SAMPLE JOHN G JR (Senior VP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-07-02	Common Stock	A	10000	—	Acquired	10000	Direct
2007-07-09	Coomon Stock	S	2500	$3.97	Disposed	7500	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	12927	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option to Buy	$		Cmn Stk ()	50000	Direct

Footnotes

F1: Mr. Sample has an indirect ownership interest in 12927 shares held in a 401(k) Plan, based on the most recent plan statement.

F2: Represents a lapse of forfeiture provisions with respect to 10000 shares of common stock previously awarded pursuant to the Company's 1992 Incentive Plan.

F3: Mr. Sample also owns directly 10000 Deferred Shares granted under the Atlantic American Corporation 1992 Incentive Plan and 50000 options granted pursuant to the Company's 1992 Incentive Plan at an option price of $2.00.