RLI CORP — Director's Dealing 2011

Apr 7, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RLI CORP (RLI)
CIK: 0000084246
Period of Report: 2011-01-03

Reporting Person: STONE MICHAEL J (President RLI Insurance Compan)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-03	Common Stock	J	1786	—	Disposed	2325.7774	Indirect
2011-01-03	Common Stock	J	1786	—	Acquired	95860.0464	Direct
2011-03-18	Common Stock	J	1385	—	Disposed	4383.06	Indirect
2011-03-18	Common Stock	J	1385	—	Acquired	97245.0464	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	18002.4541	Indirect
Common Stock	21010.0572	Indirect
Common Stock	11364.4	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$37.54	2015-05-05	Common Stock (30000)	30000	Direct
Stock Option	$43.15	2016-05-04	Common Stock (27500)	27500	Direct
Stock Option	$49.09	2017-05-03	Common Stock (31500)	31500	Direct
Stock Option	$43.00	2018-05-01	Common Stock (34000)	34000	Direct
Stock Option	$39.90	2017-05-07	Common Stock (32000)	32000	Direct
Stock Option	$49.34	2018-05-06	Common Stock (6000)	6000	Direct
Stock Option	$49.20	2018-08-02	Common Stock (6000)	6000	Direct
Stock Option	$50.26	2018-11-01	Common Stock (6000)	6000	Direct
Stock Option	$55.28	2019-02-01	Common Stock (6000)	6000	Direct

Footnotes

F1: Ownership reflects dividend reinvestment.

F2: Shares transferred from the M.J. Stone Grantor Retained Annuity Trust (M-1) to M.J. Stone.

F3: Shares transferred from the M.J. Stone Grantor Retained Annuity Trust (M-2) to M.J. Stone.

F4: Ownership reflects shares allocated to ESOP participant's account and dividend reinvestment.

F5: Pursuant to option schedule wherein 20% of the aggregate number of shares granted may be exercised commencing one year from grant date and each year thereafter in 20% increments.

F6: Stock Option grant price adjusted to reflect $7 RLI extraordinary dividend paid 12/29/10.