KEMPER Corp — Director's Dealing 2012

May 10, 2012

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: KEMPER Corp (KMPR)
CIK: 0000860748
Period of Report: 2012-05-02

Reporting Person: Schulte James Allen (Vice President)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	26122	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (Right to buy)	$25.37	2013-02-05	Common Stock (12500)		Direct
Employee Stock Option (Right to buy)	$44.37	2014-02-03	Common Stock (18750)		Direct
Employee Stock Option (Right to buy)	$43.10	2015-02-01	Common Stock (25000)		Direct
Employee Stock Option (Right to buy)	$47.86	2016-02-01	Common Stock (10000)		Direct
Employee Stock Option (Right to buy)	$49.79	2017-02-06	Common Stock (10000)		Direct
Employee Stock Option (Right to buy)	$37.15	2018-02-05	Common Stock (10000)		Direct
Employee Stock Option (Right to buy)	$13.55	2019-02-03	Common Stock (20000)		Direct
Employee Stock Option (Right to buy)	$23.65	2020-02-02	Common Stock (20000)		Direct
Employee Stock Option (Right to buy)	$27.89	2021-02-01	Common Stock (20000)		Direct
Employee Stock Option (Right to buy)	$29.77	2022-01-31	Common Stock (20000)		Direct

Footnotes

F1: Currently exercisable.

F2: 15,000 currently exercisable; balance vests on 8/3/12.

F3: 10,000 currently exercisable; balance vest in 2 equal installments on 8/2/12 and 8/2/13.

F4: 5,000 currently exercisable; balance vest in 3 equal installments on 8/1/12, 8/1/13 and 8/1/14.

F5: Vest in 4 equal annual installments on 7/31/12, 7/31/13. 7/31/14 and 7/31/15.