UNITED FIRE GROUP INC — Director's Dealing 2014

Feb 13, 2014

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: UNITED FIRE GROUP INC (UFCS)
CIK: 0000101199
Period of Report: 2013-12-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-09-16	Common Stock	P	8	$29.025	Acquired	5967	Direct
2013-12-16	Common Stock	P	9	$27.999	Acquired	5976	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1086	Indirect
Common Stock	5604	Indirect
Common Stock	435	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$32.39	2015-02-18	Common Stock (2500)	2500	Direct
Stock Option (Right to Buy)	$39.13	2016-02-17	Common Stock (2500)	2500	Direct
Stock Option (Right to Buy)	$35.23	2017-02-16	Common Stock (5000)	5000	Direct
Stock Option (Right to Buy)	$33.43	2018-05-21	Common Stock (7114)	7114	Direct
Stock Option (Right to Buy)	$22.42	2020-05-19	Common Stock (3000)	3000	Direct
Stock Option (Right to Buy)	$20.54	2021-02-18	Common Stock (6849)	6849	Direct
Stock Option (Right to Buy)	$23.96	2023-02-15	Common Stock (6780)	6780	Direct

Footnotes

F1: Shares acquired through participation in Issuer's Dividend Reinvestment Plan.

F2: The total number of securities beneficially held directly by the Reporting Person following the reported transaction includes: 1,320 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; and 1,933 shares of restricted stock issued under the Issuer's 2008 Stock Plan which vest, subject to certain conditions, on 02/15/2018.

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; and 1,933 shares of restricted stock issued under the Issuer's 2008 Stock Plan which vest, subject to certain conditions, on 02/15/2018.

F4: The number of securities shown as being held in, acquired or disposed of by the Issuer's 401(k) Plan for the Reporting Person's benefit are the approximate number of shares of common stock (excluding fractionals) 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: All options currently exercisable.

F6: 1,800 options currently exercisable; 1,200 options become exercisable in two (2) equal installments of 600 options each on 05/19/2014 and 05/19/2015, respectively.

F7: 2,739 options currently exercisable; 4,110 options become exercisable in three (3) equal installments on 02/18/2014, 02/18/2015 and 02/18/2016, respectively.

F8: 6,780 options become exercisable in five (5) equal installments of 1,356 options each on 02/15/2014, 02/15/2015, 02/15/0216, 02/15/2017 and 02/15/2018 respectively.