UNITED FIRE GROUP INC — Director's Dealing 2014

Feb 24, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNITED FIRE GROUP INC (UFCS)
CIK: 0000101199
Period of Report: 2014-02-21

Reporting Person: Lyons Dianne M (VP/Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-02-21	Common Stock	A	4510	$29.61	Acquired	13168	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-02-21	Stock Options (right to buy)	$29.61	A	14598	Acquired	2024-02-21	Common (14598)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3710	Indirect
Common Stock	1388	Indirect

Footnotes

F1: This transaction represents a grant of restricted stock to the Reporting Person under the Issuer's 2008 Stock Plan.

F2: The price per share is the closing price of the Issuer's common stock on the date of the reported transaction.

F3: The total number of securities beneficially held directly by the Reporting Person following the reported transaction includes: includes: 2,466 shares held individually by Ms. Lyons; 3,580 shares of restricted stock issued under the Issuer's 2008 Stock Plan which vest, subject to certain conditions, on 02/18/2016; 2,612 shares of restricted stock issued under the Issuer's 2008 Stock Plan which vest, subject to certain conditions, on 02/15/2018; and 4,510 shares of restricted stock issued under the Issuer's 2008 Stock Plan which vest, subject to certain conditions, on 02/21/2019.

F4: The number of securities shown as being held in or acquired by the Issuer's 401(k) Plan for the Reporting Person's benefit are the approximate number of shares of common stock for which the Reporting Person has the right to direct the vote under the Issuer's 401(k) Plan. Such shares are not directly allocated to 401(k) Plan participants, but are instead held in a unitized fund consisting primarily of common stock, together with a small percentage of short-term investments. 401(k) Plan participants acquire units of this fund.

F5: The exercise price of these stock options represents the closing price of the Issuer's common stock on the grant date.

F6: 14,598 options that become exercisable in two (2) equal installments of 2,919 options each on 02/21/2015 and 02/21/2016, and three (3) equal installments of 2,920 options each on 02/21/2017, 02/21/2018 and 02/21/2019.