UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue.
1. Name and Address of Reporting Person(s)
W. KIM AUSTEN
701 5TH AVE
DES MOINES IA 50391-2000
2. Issuer Name and Ticker or Trading Symbol
ALLIED Group, Inc. (GRP)
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
May 1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable) [ ]
Director [ ] 10% Owner [X] Officer (give title below) [ ] Other (specify
below) Regional Vice President of Certain Subsidiaries
7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Security 2)Trans- 3.Trans- 4.Securities Acquired(A) 5)Amount of 6) 7)Nature of
action action or Disposed of (D) Securities Indirect
Date Code A Beneficially D Beneficial
(Month/ or Owned at or Ownership
Day/Year) Code V Amount D Price End of Month I
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C><C> <C> <C><C>
Common Stock 03/01/97 F V 77.0000 D $33.3750 D
Common Stock 05/16/97 S 100.0000 D $36.5000 D
Common Stock 05/19/97 S 1,700.0000 D $36.0000 D
Common Stock 05/19/97 S 4,400.0000 D $36.1250 D
Common Stock 05/22/97 M 7,500.0000 A $18.1667 D
Common Stock 05/22/97 M 375.0000 A $16.1667 D
Common Stock 05/22/97 M 375.0000 A $16.1667 D
Common Stock 05/22/97 M 188.0000 A $16.1667 D
(1)
Common Stock 05/22/97 D 188.0000 D $36.5625 D
Common Stock 05/22/97 M 375.0000 A $18.4167 D
Common Stock 05/22/97 M 375.0000 A $18.4167 D
Common Stock 05/22/97 M 187.0000 A $18.4167 D
(1)
Common Stock 05/22/97 D 187.0000 D $36.5625 13,755.7861 D
Common Stock 12,944.8411 I by ESOP
<CAPTION>
Table II (PART 1) Derivative Securitites Acquired, Disposed of, or Beneficially Owned (Columns 1 through 6)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative 2)Conversion 3)Trans- 4)Trans- 5)Number of Derivative 6)Date Exercisable and
Security or Exercise action action Securities Acquired (A) Expiration Date
Price of Date Code or Disposed of (D)
Derivative
Security Code V A D Exercisable Expiration
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Non-Qualified Stock Option $18.1667 05/22/97 M 7,500.0000 (2) 03/16/96 03/16/03
(right to buy)
Incentive Stock Option (right $16.1667 05/22/97 M 375.0000 (3) 03/31/96 03/31/04
to buy)
Non-Qualified Stock Option $16.1667 05/22/97 M 375.0000 (3) 03/31/96 03/31/04
(right to buy)
Stock Appreciation Right $16.1667 05/22/97 M (1) 188.0000 03/31/96 03/31/04
Incentive Stock Option (right $18.4167 05/22/97 M 375.0000 (4) 03/31/97 03/31/05
to buy)
Non-Qualified Stock Option $18.4167 05/22/97 M 375.0000 (4) 03/31/97 03/31/05
(right to buy)
Stock Appreciation Right $18.4167 05/22/97 M (1) 187.0000 03/31/97 03/31/05
Non-Qualified Stock Option $34.3750 03/21/97 A V 5,000.0000 03/21/00 03/21/07
(right to buy)
<CAPTION>
Table II (PART 2) Derivative Securitites Acquired, Disposed of, or Beneficially Owned (Columns 1,3 and 7 through 11)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative 3)Trans- 7)Title and Amount 8)Price 9)Number of 10) 11)Nature of
Security action of Underlying of Deri- Derivative Indirect
Date Securities vative Securities D Beneficial
Amount or Security Beneficially or Ownership
Number of Owned at I
- Title Shares End of Month
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Non-Qualified Stock Option 05/22/97 Common Stock 7,500.0000 7,500.0000 D
(right to buy)
Incentive Stock Option (right 05/22/97 Common Stock 375.0000 750.0000 D
to buy)
Non-Qualified Stock Option 05/22/97 Common Stock 375.0000 750.0000 D
(right to buy)
Stock Appreciation Right 05/22/97 Common Stock 188.0000 375.0000 D
Incentive Stock Option (right 05/22/97 Common Stock 375.0000 1,125.0000 D
to buy)
Non-Qualified Stock Option 05/22/97 Common Stock 375.0000 1,125.0000 D
(right to buy)
Stock Appreciation Right 05/22/97 Common Stock 187.0000 563.0000 D
Non-Qualified Stock Option 03/21/97 Common Stock 5,000.0000 5,000.0000 D
(right to buy)
<FN>
Explanation of Responses:
(1)
Exercise of SAR for cash.
(2)
This option was previously reported covering 5000 shares at an exercise price of
$27.25 per share, but was adjusted to reflect a stock split on November 29,
1996.
(3)
This option was previously reported covering 250 shares at an exercise price of
$24.25 per share, but was adjusted to reflect a stock split on November 29,
1996.
(4)
This option was previously reported covering 250 shares at an exercise price of
$27.625 per share, but was adjusted to reflect a stock split on November 29,
1996.
-
On November 29, 1996 the common stock of ALLIED Group, Inc. split 3-for-2,
resulting in the reporting person's acquisition of 2260.335 shares of common
stock.
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ W. KIM AUSTEN
DATE
