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^*

LEDERMAN IRA S

(Last)

(First)

(Middle)

W. R. BERKLEY CORPORATION

475 STEAMBOAT ROAD

(Street)

GREENWICH

06830

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
BERKLEY W R CORP [ BER ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	SVP, General Counsel & Sec.

3. Date of Earliest Transaction (Month/Day/Year)
08/05/2005

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)
Common Stock	08/05/2005		M		7,892	A	$8.55	102,281	D
Common Stock	08/05/2005		M		22,783	A	$10.62	125,064	D
Common Stock	08/05/2005		M		42,188	A	$14.03	167,252	D
Common Stock	08/05/2005		M		31,640	A	$4.59	198,892	D
Common Stock	08/05/2005		M		12,657	A	$17.09	211,549	D
Common Stock	08/05/2005		F		12,628	D	$36.9	198,921	D
Common Stock	08/05/2005		S		50,000	D	$36.75	148,921	D
Common Stock	08/05/2005		S		800	D	$36.92	148,121	D
Common Stock	08/05/2005		S		172	D	$37	147,949	D
Common Stock	08/08/2005		S		900	D	$36.61	147,049	D
Common Stock	08/08/2005		S		1,700	D	$36.62	145,349	D
Common Stock	08/08/2005		S		2,200	D	$36.64	143,149	D
Common Stock	08/08/2005		S		6,500	D	$36.65	136,649	D
Common Stock	08/08/2005		S		1,300	D	$36.66	135,349	D
Common Stock	08/08/2005		S		400	D	$36.68	134,949	D
Common Stock	08/08/2005		S		1,300	D	$36.69	133,649	D
Common Stock	08/08/2005		S		2,900	D	$36.7	130,749	D
Common Stock	08/08/2005		S		3,900	D	$36.9	126,849	D
Common Stock	08/09/2005		S		1,500	D	$36.66	125,349⁽¹⁾	D
Common Stock								2,034⁽²⁾	I	By Self as Cust. for Son
Common Stock								2,034⁽³⁾	I	By Self as Cust. for Daughter

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)
Employee Stock Option (right to buy)	$8.55⁽⁴⁾	08/05/2005		M			7,892	05/21/1999⁽⁵⁾	05/21/2006	Common Stock	7,892	$8.55⁽⁴⁾	0	D
Employee Stock Option (right to buy)	$10.62⁽⁶⁾	08/05/2005		M			22,783	03/11/2000⁽⁷⁾	03/11/2007	Common Stock	22,783	$10.62⁽⁶⁾	0	D
Employee Stock Option (right to buy)	$14.03⁽⁸⁾	08/05/2005		M			42,188	05/12/2001⁽⁹⁾	05/12/2008	Common Stock	42,188	$14.03⁽⁸⁾	0	D
Employee Stock Option (right to buy)	$4.59⁽¹⁰⁾	08/05/2005		M			31,640	03/16/2003⁽¹¹⁾	03/16/2010	Common Stock	31,640	$4.59⁽¹⁰⁾	10,548⁽¹⁰⁾	D
Employee Stock Option (right to buy)	$17.09⁽¹²⁾	08/05/2005		M			12,657	04/03/2005⁽¹³⁾	04/03/2012	Common Stock	12,657	$17.09⁽¹²⁾	37,969⁽¹²⁾	D

Explanation of Responses:

1. On April 8, 2005 the common stock of W. R. Berkley Corporation split 3-for-2, resulting in the reporting person's acquisition of an aggregate of 31,463 new shares.

2. On April 8, 2005 the common stock of W. R. Berkley Corporation split 3-for-2 resulting in the reporting person's acquisition of an aggregate of 678 new shares.

3. On April 8, 2005 the common stock of W. R. Berkley Corporation split 3-for-2 resulting in the reporting person's acquisition of an aggregate of 678 new shares.

4. This option was originally reported as covering 5,500 shares at an exercise price of $43.31 per share, and has been adjusted to reflect the 3-for-2 stock splits of August 1997, July 2002, August 2003 and April 2005.

5. Stock Option Grant vested in three equal installments on May 21, 1999, May 21, 2000 and May 21, 2001.

6. This option was originally reported as covering 4,500 shares at an exercise price of $53.75 per share, and has been adjusted to reflect the 3-for-2 stock splits of August 1997, July 2002, August 2003 and April 2005.

7. Stock Option Grant vested in three equal installments on March 11, 2000, March 11, 2001 and March 11, 2002.

8. This option was originally reported as covering 12,500 shares at an exercise price of $47.375 per share, and has been adjusted to reflect the 3-for-2 stock splits of July 2002, August 2003 and April 2005.

9. Stock Option Grant vested in four equal installments on May 12, 2001, May 12, 2002 , May 12, 2003 and May 12, 2004.

10. This option was originally reported as covering 12,500 shares at an exercise price of $15.50 per share, and has been adjusted to reflect the 3-for-2 stock splits of July 2002, August 2003 and April 2005.

11. Stock Option Grant vested in four equal installments on March 16, 2003, March 16, 2004, March 16, 2005 and March 16, 2006.

12. This option was originally reported as covering 15,000 shares at an exercise price of $57.67 per share, and has been adjusted to reflect the 3-for-2 stock splits of July 2002, August 2003 and April 2005.

13. Stock Option Grant vests in four equal installments on April 3, 2005, April 3, 2006, April 3, 2007 and April 3, 2008.

Remarks:

	Ira S. Lederman	08/09/2005
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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