ENCORE CAPITAL GROUP INC — Director's Dealing 2011

Jan 5, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ENCORE CAPITAL GROUP INC (ECPG)
CIK: 0001084961
Period of Report: 2011-01-04

Reporting Person: Grinberg Paul (Executive VP, CFO & Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-04	Common Stock	M	6156	$2.89	Acquired	200377	Direct
2011-01-04	Common Stock	S	6156	$23.599	Disposed	194221	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-04	Employee Stock Option (right to buy)	$2.89	M	6156	Disposed	2019-03-19	Common Stock (6156)	Direct

Footnotes

F1: The sale reported was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 24, 2010.

F2: The shares were sold in multiple transactions on Januray 4, 2011 at per share prices ranging from $23.58 to $23.7250, inclusive. The price reported reflects the weighted average sale price for the transactions. The reporting person undertakes to supply the Staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price upon request.

F3: The shares became exercisable as to 23,334 shares on March 9, 2010. The remainder of the shares will become exercisable as to 23,333 shares on each of March 9, 2011 and March 9, 2012, at which time all the shares subject to the option will be fully vested.