Edgar Filing: PROTECTIVE LIFE CORP

Ownership Submission

FORM 4

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

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 ^*

JOHNS JOHN D

2. Issuer Name and Ticker or Trading Symbol
PROTECTIVE LIFE CORP [PL]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
President

(Last)

(First)

(Middle)

2801 HIGHWAY 280 SOUTH

3. Date of Earliest Transaction (Month/Day/Year)
05/17/2007

(Street)

BIRMINGHAM, AL 35223

4. If Amendment, Date Original Filed(Month/Day/Year)

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 Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/17/2007		A		2,118	A	$ 47.323	15,124	D
Common Stock	05/17/2007		F		1,158	D	$ 47.323	13,966	D
Common Stock	05/17/2007		A		33,188.58	A	$ 47.323	304,024.832	I	Deferred Compensation ⁽¹⁾
Common Stock								9,607.9548	I	By 401(k) ⁽²⁾
Common Stock								2,600	I	By wife ⁽³⁾
Common Stock								400	I	By wife as co-trustee of Trust ⁽³⁾
Common Stock								600	I	By wife as custodian for Daughter ⁽³⁾
Common Stock								600	I	by wife as custodian for son ⁽³⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction 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
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(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

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

SAR 06 ⁽⁴⁾

$ 41.05

03/04/2006

03/04/2015

SAR

5,800

SAR 06 a ⁽⁴⁾

$ 41.05

03/04/2007

03/04/2015

SAR

5,800

SAR 06 b ⁽⁴⁾

$ 41.05

03/04/2008

03/04/2015

SAR

5,800

SAR 06 c ⁽⁴⁾

$ 41.05

03/04/2009

03/04/2015

SAR

5,800

SAR 11 ⁽⁴⁾

$ 43.46

03/05/2008

03/05/2017

SAR

15,100

SAR 11a ⁽⁴⁾

$ 43.46

03/05/2009

03/05/2017

SAR

15,100

SAR 11b ⁽⁴⁾

$ 43.46

03/05/2010

03/05/2017

SAR

15,100

SAR 11c ⁽⁴⁾

$ 43.46

03/05/2011

03/05/2017

SAR

15,100

SAR 2 ⁽⁴⁾

$ 22.31

03/06/2005

03/06/2010

SAR

50,000

SAR 3 3 06 ⁽⁴⁾

$ 48.6

03/03/2007

03/03/2016

SAR

6,325

SAR 3 3 06 a ⁽⁴⁾

$ 48.6

03/03/2008

03/03/2016

SAR

6,325

SAR 3 3 06 b ⁽⁴⁾

$ 48.6

03/03/2009

03/03/2016

SAR

6,325

SAR 3 3 06 c ⁽⁴⁾

$ 48.6

03/03/2010

03/03/2016

SAR

6,325

SAR 4 ⁽⁴⁾

$ 32

03/04/2007

03/04/2012

SAR

300,000

SAR 6 ⁽⁴⁾

$ 22.31

07/21/2004

03/06/2010

SAR

116,302

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
JOHNS JOHN D 2801 HIGHWAY 280 SOUTH BIRMINGHAM, AL 35223			President

Signatures

By: by Harriette Hyche Attorney-in-Fact for		05/18/2007
^**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Shares acquired through PLC Def. Comp. Plan for Officers of the Corporation (exempt under Rule 16b-3).Total amount in Col. 5 includes dividend shares acquired under the PLC Def. Comp. Plan for Officers exempt under Rule 16-a 11.
(2)	Total Shares held by reporting person in PLC's 401(k) & Stock Ownership Plan as of 4/30/07.
(3)	I disclaim beneficial ownership of such shares.
(4)	Previously reported Stock Appreciation Right (SAR).

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