Seth A. Davis - 21 Apr 2023 Form 4 Insider Report for RLI CORP (RLI)

Role: Vice President, Controller
Signature: /s/ Seth Anthony Davis
Issuer symbol: RLI
Transactions as of: 21 Apr 2023
Net transactions value: -$423,789
Form type: 4
Filing time: 24 Apr 2023, 16:14:02 UTC
Previous filing: 01 Feb 2023
Next filing: 08 May 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RLI	Common Stock	Options Exercise	$365,490	+9,000	+236%	$40.61	12,808	21 Apr 2023	Direct
transaction	RLI	Common Stock	Tax liability	$789,279	-5,374	-42%	$146.87	7,434	21 Apr 2023	Direct
holding	RLI	Common Stock						5,040	21 Apr 2023	RLI Corp. Executive Deferred Compensation Plan	F1
holding	RLI	Common Stock						14,177	21 Apr 2023	RLI Corp. Employee Stock Ownership Plan	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	RLI	Stock Option	Options Exercise	$0	-9,000	-100%	$0.000000^*	0	21 Apr 2023	Common Stock	9,000	$40.61	Direct	F3, F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Ownership reflects dividend reinvestment
F2	Balance reflects annual company contributions and dividend reinvestment.
F3	Exercise price reflects prior adjustments as a result of special dividends.
F4	Stock option grant price adjusted to reflect $7.00 extraordinary dividend declared 11-10-2022.
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.