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. See Instructions 1(b).
1. Name and Address of Reporting Person
Hanrahan, Timothy J
2955 North Meridian Street
Indianapolis, IN 46208
USA
2. Issuer Name and Ticker or Trading Symbol
Meridian Insurance Group, Inc.
MIGI
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
May 1999
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)
Vice President
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>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock |05/05/|M | |3,500 |A |$10.7950 | | | |
|99 | | | | | | | | |
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Common Stock |05/05/|F | |1,660 |D |$16.2500 |13,303 (1) (2) |D | |
|99 | | | | | | | | |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Employee Stock Option |$10.7950|05/05|M | |3,500 |D |03/02|03/02|Common Stock|3,500 | |12,091 (3) |D | |
(Right to Buy) | |/99 | | | | |/97 |/04 | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) On December 9, 1998, MIGI declared a 10 percent stock dividend payable to
all holders of record on
December 21, 1998. As a result, the reporting person received 1,021 shares of
common stock on the payment
date of January 6,
1999.
(2) Between January 1, 1998, and March 31, 1999, the reporting person acquired
228 shares of MIGI common
stock under the Meridian Insurance Group 401(k)
Plan.
(3) Pursuant to anti-dilution provisions of the MIGI Employee Incentive Stock
Plan, the option for 14,173 shares of
common stock granted on March 2, 1994, became exercisable for 15,591 common
shares at an adjusted price of
$10.7950.
SIGNATURE OF REPORTING PERSON
/s/ Leon M. Neddo, Jr.
DATE
May 25, 1999
