DALENTA TERESA J 4

4 · SAFECO CORP · Filed Jan 3, 2007

Form 4

Period: 2006-12-29

Sr. Vice Pres., Chief Actuary

Transactions

Award
Phantom Stock Units
2006-12-29$39.60/sh+3.077$122→ 1,155.672 total
→ Common Stock (3.077 underlying)
Award
Phantom Stock Units
2006-12-29$39.60/sh+8.548$339→ 1,144.901 total
→ Common Stock (8.548 underlying)
Award
Phantom Stock Units
2006-12-29$39.60/sh+7.694$305→ 1,152.595 total
→ Common Stock (7.694 underlying)
Award
Phantom Stock Units
2006-12-29$39.60/sh+2.308$91→ 1,157.98 total
→ Common Stock (2.308 underlying)

Footnotes (4)

[F1]These Phantom Stock Units may be converted to shares of Safeco stock as follows: The number of Phantom Stock Units acquired multiplied by the price of Phantom Stock Units on the transaction date divided by the closing price of Safeco stock on the transaction date.
[F2]These Phantom Stock Units were acquired under the Safeco Deferred Compensation Plan for Executives (the "Plan") as a result of a deferral of compensation and will be settled in cash following termination of the reporting person's service as an officer of Safeco Corporation, or may be reallocated to another investment option pursuant to the terms of the Plan.
[F3]These Phantom Stock Units were acquired under the Plan as a result of a deferral of compensation in excess of IRC limits and will be settled in cash following termination of the reporting person's service as an officer of Safeco Corporation, or may be reallocated to another investment option pursuant to the terms of the Plan.
[F4]These Phantom Stock Units were acquired under the Plan as a result of an employer matching contribution related to the excess deferral in (3) above and will be settled in cash following termination of the reporting person's service as an officer of Safeco Corporation, or may be reallocated to another investment option pursuant to the terms of the Plan.

Documents

1 file