UNIVERSAL CORP /VA/ — Director's Dealing 2010

Feb 25, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNIVERSAL CORP /VA/ (UVV)
CIK: 0000102037
Period of Report: 2010-02-23

Reporting Person: Paul Ray M Jr (Subsidiary Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-02-23	Common Stock	M	8000	$36.03	Acquired	45127	Direct
2010-02-23	Common Stock	D	6188	$54.11	Disposed	38939	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-02-23	Stock Appreciation Rights	$36.03	M	8000	Disposed	2016-06-13	Common Stock (8000)	Direct

Footnotes

F1: Includes 14550 restricted stock units and 1727 dividend units on the restricted stock units. The restricted stock units and the dividend units vest on the fifth anniversary of the award date, however, payment will be delayed until termination of service if individual is a covered employee under code section 162(m) on the date of vesting.

F2: after a 12 month period of the grant date, 1/3 of total shares are exercisable for each anniversary date after that for 3 such periods.