FORM 4
[ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response... 0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Brine Kevin R 		2. Issuer Name and Ticker or Trading Symbol

DELPHI FINANCIAL GROUP INC/DE [ DFG ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
_____ Officer (give title below)      __ X __ Other (specify below)
Former director
(Last)          (First)          (Middle)

C/O DELPHI CAPITAL MANAGEMENT, INC., 590 MADISON AVENUE 30TH FL 		3. Date of Earliest Transaction (MM/DD/YYYY)

5/15/2012
(Street)

NEW YORK, NY 10022
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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
Class A Common Stock   5/15/2012     D    7079   D $43.875   (1) 0   D  
 
Class A Common Stock   5/15/2012     D    211379   D $43.875   (1) 0   I   by K. R. Brine, L.P.  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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
Stock Option (right to buy)   $27.54   5/15/2012     D         4085    11/4/2004   7/22/2014   Class A Common Stock   4085     (2) 0   D  
 
Stock Option (right to buy)   $27.54   5/15/2012     D         4472    7/22/2005   7/22/2014   Class A Common Stock   4472     (2) 0   D  
 
Stock Option (right to buy)   $27.8533   5/15/2012     D         7452    5/25/2006   5/25/2015   Class A Common Stock   7452     (2) 0   D  
 
Stock Option (right to buy)   $27.8533   5/15/2012     D         5385    8/23/2005   5/25/2015   Class A Common Stock   5385     (2) 0   D  
 
Stock Option (right to buy)   $34.6667   5/15/2012     D         8198    5/4/2007   5/4/2016   Class A Common Stock   8198     (2) 0   D  
 
Stock Option (right to buy)   $34.6667   5/15/2012     D         4328    8/2/2006   5/4/2016   Class A Common Stock   4328     (2) 0   D  
 
Stock Option (right to buy)   $42.91   5/15/2012     D         6991    5/1/2008   5/9/2017   Class A Common Stock   6991     (2) 0   D  
 
Stock Option (right to buy)   $42.91   5/15/2012     D         3496    8/7/2007   5/9/2017   Class A Common Stock   3496     (2) 0   D  
 
Stock Option (right to buy)   $27.15   5/15/2012     D         11049    5/1/2009   5/8/2018   Class A Common Stock   11049     (2) 0   D  
 
Stock Option (right to buy)   $27.15   5/15/2012     D         5525    8/5/2008   5/8/2018   Class A Common Stock   5525     (2) 0   D  
 
Stock Option (right to buy)   $19.58   5/15/2012     D         15322    5/1/2010   5/6/2019   Class A Common Stock   15322     (2) 0   D  
 
Stock Option (right to buy)   $26.33   5/15/2012     D         5697    5/1/2011   5/5/2020   Class A Common Stock   5697     (2) 0   D  
 
Stock Option (right to buy)   $29.83   5/15/2012     D         5028    5/1/2012   5/11/2021   Class A Common Stock   5028     (2) 0   D  
 

Explanation of Responses:
( 1)  Disposed of pursuant to the Agreement and Plan of Merger dated as of December 21, 2011 by and among the issuer, Tokio Marine Holdings, Inc. and TM Investment (Delaware) Inc. (the "Merger Agreement"), pursuant to which each of the shares was converted into the right to receive $43.875 in cash. In addition, pursuant to the terms of the Merger Agreement, a special cash dividend of $1.00 per share was paid in respect of such shares on May 16, 2012.
( 2)  Pursuant to the terms of the Merger Agreement, such option, whether or not fully vested, was cancelled in exchange for the right to receive a cash payment equal to the amount by which $44.875 exceeded the exercise price per share of such option, multiplied by the number of shares of Class A Common Stock underlying such option.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Brine Kevin R
C/O DELPHI CAPITAL MANAGEMENT, INC.
590 MADISON AVENUE 30TH FL
NEW YORK, NY 10022


Former director

Signatures
Chad W. Coulter, Attorney-in-Fact for Kevin R. Brine 5/17/2012
** 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 control number.
Delphi A (NYSE:DFG)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Delphi A Charts.
Delphi A (NYSE:DFG)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Delphi A Charts.