MARKEL GROUP INC. — Director's Dealing 2014

Nov 12, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MARKEL CORP (MKL)
CIK: 0001096343
Period of Report: 2014-11-10

Reporting Person: Whitt Richard R III (President & Co-COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-11-10	Common Stock	S	200	$702.31	Disposed	13657.7496	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2225.459	Indirect

Footnotes

F1: The total includes 2,224 and 1,071 restricted stock units awarded pursuant to the Markel Corporation Omnibus Incentive Plan that will vest, subject to certain conditions, on May 10, 2015 and December 31, 2015, respectively; 3,805 and 1,644 restricted stock units awarded pursuant to the Markel Corporation 2012 Equity Incentive Compensation Plan that will vest, subject to certain conditions, on May 13, 2016 and December 31, 2018, respectively; and 1,267 restricted stock units awarded pursuant to the Markel Corporation 2012 Equity Incentive Compensation Plan and the Markel Corporation Omnibus Incentive Plan, as applicable, that will vest, subject to certain conditions, on December 31, 2017.

F2: Holdings under the Markel Corporation 401(K) Plan are reported in units. The information reported herein is based on a plan statement dated as of September 30, 2014 and utilizes the closing stock price on that date of $636.15 per share. As of September 30, 2014, a unit under the Plan represented one share of Common Stock.