PRA GROUP INC — Director's Dealing 2012

Feb 10, 2012

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: PORTFOLIO RECOVERY ASSOCIATES INC (PRAA)
CIK: 0001185348
Period of Report: 2011-12-31

Reporting Person: GRUBE CRAIG A (Senior Advisor)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-18	Common Stock	S	3000	$85.21	Disposed	27789	Direct
2011-02-18	Common Stock	G	1442	$0.00	Disposed	26347	Direct
2011-02-25	Common Stock	S	1000	$84.85	Disposed	25347	Direct
2011-05-10	Common Stock	S	2600	$85.72	Disposed	22747	Direct
2011-05-10	Common Stock	G	500	$0.00	Disposed	22247	Direct
2011-05-12	Common Stock	S	400	$85.25	Disposed	21847	Direct
2011-05-31	Common Stock	S	1000	$86.25	Disposed	20847	Direct
2011-07-07	Common Stock	S	600	$89.25	Disposed	20247	Direct
2011-08-09	Common Stock	P	1500	$67.47	Acquired	21747	Direct
2011-12-31	Common Stock	A	1085	$0.00	Acquired	22832	Direct

Footnotes

F1: This transaction occurred after the reporting person exited Section 16 status and is being reported voluntarily by way of this Form 5.

F2: The sale prices for this transaction ranged from $85.69 to $85.74. The filer hereby agrees to provide, upon request by the Commission staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

F3: These shares were awarded pursuant to the Company's 2010 Long Term Equity Incentive Plan ("LTI Plan") in which the reporting person was granted both performance based and time vested restricted shares. The shares reported on this form represent the shares earned under the Earnings Per Share performance category as outlined in the Proxy Statement filed by Portfolio Recovery Associates, Inc. on April 27, 2011.