Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  LEROY SPENCER III
2. Date of Event Requiring Statement (Month/Day/Year)
02/26/2015
3. Issuer Name and Ticker or Trading Symbol
OLD REPUBLIC INTERNATIONAL CORP [ORI]
(Last)
(First)
(Middle)
307 N MICHIGAN AVE, STE 2300
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

CHICAGO, IL 60601
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 60,099
D
 
Common Stock 16,617
I
By IRA
Common Stock 22,245
I
By Company ESSOP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
2005 Employee Stock Option 12/31/2005 04/11/2015(2) Common Stock 62,500 (1) $ 18.41 D  
2006 Employee Stock Option 12/31/2006 05/26/2016(2) Common Stock 64,000 (1) $ 21.48 D  
2007 Employee Stock Option 12/31/2007 03/13/2017(2) Common Stock 72,000 (1) $ 21.77 D  
2009 Employee Stock Option 12/31/2009 03/25/2018(2) Common Stock 9,000 (1) $ 10.48 D  
2010 Employee Stock Option 12/31/2010 07/01/2018(2) Common Stock 15,400 (1) $ 12.08 D  
2011 Employee Stock Option 12/31/2011 07/01/2018(2) Common Stock 22,500 (1) $ 12.33 D  
2012 Employee Stock Option 12/31/2012 07/01/2018(2) Common Stock 31,500 (1) $ 10.8 D  
2013 Employee Stock Option 12/31/2013 07/01/2018(2) Common Stock 35,000 (1) $ 12.57 D  
2014 Employee Stock Option 07/01/2014 07/01/2018(2) Common Stock 35,500 (1) $ 16.06 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
LEROY SPENCER III
307 N MICHIGAN AVE
STE 2300
CHICAGO, IL 60601
  X      

Signatures

William J. Dasso, Power of Attorney for Spencer LeRoy III 03/05/2015
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(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).
(1) All outstanding options vested on 07/01/14, the date of Mr. LeRoy's retirement from the Company.
(2) Options expire on the earlier of their final exercise date or fours years following Mr. LeRoy's retirement, which expire 7/1/2018.

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