Edgar Filing: RLI CORP

Ownership Submission

FORM 5

	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
	Form 3 Holdings Reported
	Form 4 Transactions Reported

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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3235-0362

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1. Name and Address of Reporting Person ^*

MICHAEL JONATHAN E

2. Issuer Name and Ticker or Trading Symbol
RLI CORP [RLI]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
President

(Last)

(First)

(Middle)

9025 N. LINDBERGH DRIVE

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2013

(Street)

PEORIA,Â ILÂ 61615

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Reporting
(check applicable line)
_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	12/31/2013	Â	J4⁽¹⁾	4,860	D	$ 0	0	I	Michael Charitable Fund dtd 08/30/11
Common Stock	Â	Â	Â	Â	Â	Â	257,157.5258	D ⁽²⁾	Â
Common Stock	Â	Â	Â	Â	Â	Â	97,330.362	I ⁽²⁾	By Empl. Stock Ownership Plan
Common Stock	Â	Â	Â	Â	Â	Â	52,870.453	I ⁽²⁾	By Key Employee Benefit Plan
Common Stock	Â	Â	Â	Â	Â	Â	21,337.1195	I ⁽²⁾	By Trust
Common Stock	Â	Â	Â	Â	Â	Â	4,635.2276	I ⁽²⁾	J.E. Michael 2011 Grantor Retained Annuity Trust Dtd 08/02/11
Common Stock	Â	Â	Â	Â	Â	Â	6,034.9199	I ⁽²⁾	J.E. Michael 2012 Grantor Retained Annuity Trust Dtd 07/24/12

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

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SEC 2270 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option

$ 34.04 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾

11/03/2007⁽⁷⁾

11/03/2016

Common Stock

10,500

Stock Option

$ 36.21 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾

02/02/2008⁽⁷⁾

02/02/2017

Common Stock

10,500

Stock Option

$ 36.09 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾

05/03/2008⁽⁷⁾

05/03/2017

Common Stock

10,500

Stock Option

$ 36.67 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾

08/03/2008⁽⁷⁾

08/03/2017

Common Stock

10,500

Stock Option

$ 36.03 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾

11/02/2008⁽⁷⁾

11/02/2017

Common Stock

10,500

Stock Option

$ 35.41 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾

02/01/2009⁽⁷⁾

02/01/2018

Common Stock

10,500

Stock Option

$ 34.36 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾

08/01/2009⁽⁷⁾

08/01/2018

Common Stock

10,500

Stock Option

$ 36.73 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾

11/03/2009⁽⁷⁾

11/03/2018

Common Stock

10,500

Stock Option

$ 36.89 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾

02/02/2010⁽⁷⁾

02/02/2019

Common Stock

10,500

Stock Option

$ 26.9 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾

05/07/2010⁽⁷⁾

05/07/2017

Common Stock

1,950

Stock Option

$ 30.49 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾

08/03/2010⁽⁷⁾

08/03/2017

Common Stock

3,900

Stock Option

$ 29.9 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾

11/02/2010⁽⁷⁾

11/02/2017

Common Stock

3,900

Stock Option

$ 31.62 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾

02/01/2011⁽⁷⁾

02/01/2018

Common Stock

9,750

Stock Option

$ 36.34 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾

05/06/2011⁽⁷⁾

05/06/2018

Common Stock

8,500

Stock Option

$ 36.2 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾

08/02/2011⁽⁷⁾

08/02/2018

Common Stock

8,500

Stock Option

$ 37.26 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾ ⁽⁶⁾

11/01/2011⁽⁷⁾

11/01/2018

Common Stock

8,500

Stock Option

$ 42.28 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾

02/01/2012⁽⁷⁾

02/01/2019

Common Stock

8,500

Stock Option

$ 45.73 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾

05/05/2012⁽⁷⁾

05/05/2019

Common Stock

15,000

Stock Option

$ 49.62 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾

08/01/2012⁽⁷⁾

08/01/2019

Common Stock

15,000

Stock Option

$ 54.59 ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾

11/01/2012⁽⁷⁾

11/01/2019

Common Stock

15,000

Stock Option

$ 64.61 ⁽³⁾ ⁽⁴⁾

02/01/2013⁽⁷⁾

02/01/2020

Common Stock

15,000

Stock Option

$ 60.7 ⁽³⁾ ⁽⁴⁾

05/03/2013⁽⁷⁾

05/03/2020

Common Stock

15,000

Stock Option

$ 55.25 ⁽³⁾ ⁽⁴⁾

08/01/2013⁽⁷⁾

08/01/2020

Common Stock

15,000

Stock Option

$ 59.83 ⁽³⁾ ⁽⁴⁾

11/01/2013⁽⁷⁾

11/01/2020

Common Stock

15,000

Stock Option

$ 66.48 ⁽³⁾

02/01/2014⁽⁷⁾

02/01/2021

Common Stock

15,000

Stock Option

$ 68.84 ⁽³⁾

05/02/2014⁽⁷⁾

05/02/2021

Common Stock

10,000

Stock Option

$ 80.54 ⁽³⁾

08/01/2014⁽⁷⁾

08/01/2021

Common Stock

10,000

Stock Option

$ 91.1 ⁽³⁾

11/01/2014⁽⁷⁾

11/01/2021

Common Stock

10,000

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
MICHAEL JONATHAN E 9025 N. LINDBERGH DRIVE PEORIA,Â ILÂ 61615	Â X	Â	Â President	Â

Signatures

/s/ Jonathan E. Michael		01/15/2014
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	A Form 4 filed 09/01/11 reflected that Jonathan E. Michael gifted shares of RLI stock to the Michael Charitable Trust dtd. 08/31/11. Mr. Michael's beneficial ownership interest ceased when the shares were subsequently transferred irrevocably to the Charles Schwab Charitable Trust ("CSCT"). Thus, future sales of such shares from the CSCT are not reportable transactions for Mr. Michael.
(2)	Ownership reflects dividend reinvestment
(3)	Stock option grant price adjusted to reflect $3.00 extraordinary dividend declared 11/14/13.
(4)	Stock option grant price adjusted to reflect $5 extraordinary dividend declared 11/14/12.
(5)	Stock Option grant price adjusted to reflect $5 RLI extraordinary dividend declared 11/17/11.
(6)	Stock Option grant price adjusted to reflect $7 RLI extraordinary dividend paid 12/29/10.
(7)	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.

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