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: 2014-02-14

Reporting Person: ERNST BARRIE W (VP/Chief Investment Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-02-21	Common Stock	A	2937	$29.61	Acquired	8913	Direct
2014-02-14	Common Stock	P	14	$27.37	Acquired	5683	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-02-21	Stock Option (right to buy)	$29.61	A	9506	Acquired	2024-02-21	Common Stock (9506)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	435	Indirect
Common Stock	1086	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: 1,329 shares of stock held individually by Mr. Ernst; 2,714 shares of restricted stock issued under the Issuer's 2008 Stock Plan which vest, subject to certain conditions, on 02/18/2016; 1,933 shares of restricted stock issued under the Issuer's 2008 Stock Plan which vest, subject to certain conditions, on 02/15/2018; and 2,937 shares of restricted stock issued under the Issuer's 2008 Stock Plan which vest, subject to certain conditions, on 02/21/2019.

F4: The deemed execution date of this transaction is the statement date as provided by the Issuer's 401(k)Plan trustee/administrator.

F5: Shares acquired through payroll deduction and participation in the Issuer's 401(k) Plan.

F6: This transaction qualifies as a non-discretionary transaction from a tax-qualified plan and is voluntarily reported on Form 4.

F7: Represents the approximate number of shares acquired by the trustee/administrator of the Issuer's 401(k)Plan for the reporting person's benefit, based on a statement of the plan trustee/administrator.

F8: The price per share is based on a statement provided by the Issuer's 401(k) Plan trustee/administrator.

F9: The number of securities shown as being held in or acquired by the Issuer's 401(k) account 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.

F10: The exercise price of these stock options represents the closing price of the Issuer's common stock on the grant date.

F11: 9,506 options that become exercisable in four (4) equal installments of 1,901 options each on 02/21/2015, 02/21/2016, 02/21/2017, 02/21/2018 and 1,902 options on 02/21/2019.