GLOBE LIFE INC. — Director's Dealing 2018

Feb 28, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TORCHMARK CORP (TMK)
CIK: 0000320335
Period of Report: 2018-02-26

Reporting Person: HENRIE MICHAEL SHANE (Officer of Principal Sub.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-02-26	Common Stock	M	7500	$50.64	Acquired	7500	Direct
2018-02-26	Common Stock	S	7500	$87.3297	Disposed	0	Direct
2018-02-26	Common Stock	M	7500	$53.61	Acquired	7500	Direct
2018-02-26	Common Stock	S	7500	$87.3297	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-02-26	Employee Stock Option (Right to Buy)	$50.64	M	7500	Disposed	2023-02-24	Common Stock (7500)	Direct
2018-02-26	Employee Stock Option (Right to Buy)	$53.61	M	7500	Disposed	2022-02-25	Common Stock (7500)	Direct
2018-02-26	Employee Stock Option (Right to Buy)	$87.60	A	12900	Acquired	2028-02-26	Common Stock (12900)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	67	Indirect

Footnotes

F1: sales at prices ranging from $87.22 per share to $87.47 per share.

F2: Reporting person will provide full information regarding the number of shares sold at each separate price upon request by the SEC staff, the issuer or any security holder of the issuer.

F3: Shares in unitized fund in employee benefit plan - estimated conversion of $ balance to shares using $87.60 per share.

F4: First exercisable as to 50% of shares 2-24-18 and as to remaining 50% of shares 2-24-19.

F5: First exercisable as to 25% of shares 2/26/20, an additional 25% of shares 2/26/21, an additional 25% of shares 2/26/22 and an additional 25% of shares 2/26/23.