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Form 4 RLI CORP For: Nov 14 Filed by: STONE MICHAEL J

November 19, 2014 11:24 AM EST
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
OMB APPROVAL
OMB Number: 3235-0287
Expires: December 31, 2014
Estimated average burden
hours per response: 0.5
  
 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 *
STONE MICHAEL J
(Last) (First) (Middle)
9025 N. LINDBERGH DRIVE
(Street)
PEORIA IL 61615
(City) (State) (Zip)
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
Officer (give title below) X Other (specify below)
President RLI Insurance Compan
3. Date of Earliest Transaction (Month/Day/Year)
11/14/2014
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)
Code V Amount (A) or (D) Price
Common Stock 11/14/2014   J (1) V 2,096 D $ 48.85 18,514.896 I (2) M.J. Stone Grantor Retained Annuity Trust (M5) dtd. 10/31/11
Common Stock 11/14/2014   J (1) V 2,096 A $ 48.85 219,629.6051 D (2)  
Common Stock 11/14/2014   J (3) V 1,030 D $ 48.85 21,795.308 I (2) M.J. Stone Grantor Retained Annuity Trust (M6) dtd. 10/31/11
Common Stock 11/14/2014   J (3) V 1,030 A $ 48.85 220,659.6051 D (2)  
Common Stock               47,223.7438 I By Empl. Stock Ownership Plan (4)
Common Stock               52,945.0281 I (2) By Trust
Common Stock               12,550 I By Wife
Common Stock               630 I By Wife, Custodian UTMA-FL
Common Stock               9,492 I M.J. Stone Grantor Retained Annuity Trust (M4) dtd. 10/31/11
Common Stock               8,130 I M.J. Stone Grantor Retained Annuity Trust (M7) dtd. 01/30/13
Common Stock               8,722 I M.J. Stone Grantor Retained Annuity Trust (M8) dtd. 01/30/13
Common Stock               9,072 I M.J. Stone Grantor Retained Annuity Trust (M9) dtd. 01/30/13
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Shares distributed from the M.J. Stone Grantor Retained Annuity Trust (M5) to M.J. Stone
2. Ownership reflects dividend reinvestment
3. Shares distributed from the M.J. Stone Grantor Retained Annuity Trust (M6) to M.J. Stone
4. Balance reflects annual company contributions and dividend reinvestment.
Remarks:
Historically, each outstanding stock option grant has been reflected under Table II on all Form 4 filings. Those previously reported stock options (which are not deemed to be of the same class) will no longer appear on each Form 4, unless specifically included in a transaction.
/s/ Michael J. Stone 11/19/2014
** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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