Adam T. Bergonzi - Mar 3, 2022 Form 4 Insider Report for MBIA INC (MBI)

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MBI	Common Stock	Award	$0	+16.9K	+1.98%	$0.00	872K	Mar 3, 2022	Direct	F1, F2
transaction	MBI	Common Stock	Award	$0	+32.5K	+3.72%	$0.00	904K	Mar 3, 2022	Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	Time based shares that will vest in equal installments on the third, fourth and fifth anniversary of the grant date, subject to the NEO's continued employment on the vesting date (subject to certain exceptions).
F2	Balance reflects adjustment for retirement plan shares.
F3	Restricted stock granted pursuant to long-term incentive award under 16b-3 exemption. The shares issued are the target number of performance-based restricted stock that may be earned (in a range of 0% to 200% of the target number of shares issued) based on the achievement of a certain performance metric as of December 31, 2024. Unless otherwise adjusted downward by the compensation committee in its discretion, the number of performance shares that may be earned in excess of the target number of shares is 32,469. Any shares that are not earned on such date will be forfeited. The shares that are earned on such date will vest in one-third increments on each of the third, fourth and fifth anniversaries of the date of grant, subject to certain continued service conditions.