ATLANTIC AMERICAN CORP — Director's Dealing 2011

Oct 18, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ATLANTIC AMERICAN CORP (AAME)
CIK: 0000008177
Period of Report: 2011-10-14

Reporting Person: THOMPSON SCOTT G (Director, Pres & CEO Am. Sou. Ins. Co.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-10-14	Common Stock	M	65000	$1.25	Acquired	95954	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-10-14	Option to Buy	$1.25	M	65000	Disposed	2011-10-15	Common Stock (65000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option to Buy	$1.59	2013-05-06	Common Stock (15000)	15000	Direct

Footnotes

F1: Mr. Thompson holds presently exercisable stock options to acquire 15,000 shares of common stock granted under the Company's 2002 Incentive Plan at an exercise price of $1.59 per share. The expiration date of these options is May 6, 2013.