SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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

1. Name and Address of Reporting Person^*

RIFE JOHN A

(Last)

(First)

(Middle)

118 SECOND AVENUE SE

P.O. BOX 73909

(Street)

CEDAR RAPIDS

52407-3909

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
UNITED FIRE & CASUALTY CO [ UFCS ]

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

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/18/2011

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

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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 Following Reported Transaction(s) (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)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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 Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (right to buy)	$20.4⁽¹⁾	02/18/2011		A		3,000		⁽²⁾	02/18/2021	Common Stock	3,000	$0.00	3,000	D
Stock Option (right to buy)	$22.46⁽¹⁾							⁽³⁾	05/19/2020	Common Stock	3,000		3,000	D
Stock Option (right to buy)	$34.39⁽⁴⁾							⁽⁵⁾	02/15/2018	Common Stock	3,000		3,000	D
Stock Option (right to buy)	$35.23⁽⁴⁾							⁽⁵⁾	02/16/2017	Common Stock	20,000		20,000	D
Stock Option (right to buy)	$39.13⁽⁴⁾							⁽⁵⁾	02/17/2016	Common Stock	20,000		20,000	D
Stock Option (right to buy)	$32.39⁽⁴⁾							⁽⁵⁾	02/18/2015	Common Stock	20,000		20,000	D
Stock Option (right to buy)	$21.66⁽⁴⁾							⁽⁵⁾	02/20/2014	Common Stock	12,000		12,000	D
Stock Option (right to buy)	$15.85⁽⁴⁾							⁽⁵⁾	02/21/2013	Common Stock	2,500		2,500	D

Explanation of Responses:

1. Under the terms of the 2005 United Fire & Casualty Company Nonqualified Nonemployee Stock Option and Restricted Stock Plan, the option exercise price for these stock options is calculated as the average of the high and low trading price of the issuer's common stock on the grant date.

2. 3,000 options become exercisable in five equal installments of 600 option shares each on 02/18/2012, 02/18/2013, 02/18/2014, 02/18/2015 and 02/18/2016.

3. 3,000 options become exercisable in five equal installments of 600 option shares each on 05/19/2011, 05/19/2012, 05/19/2013, 05/19/2014 and 05/19/2015.

4. The exercise price of these stock options represents the closing price of issuer's common stock on the grant date.

5. All options currently exercisable.

Remarks:

	/s/ John A. Rife by Dianne M. Lyons, Attorney-in-Fact	02/22/2011
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
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