Adam T. Bergonzi - Mar 3, 2023 Form 4 Insider Report for MBIA INC (MBI)

Role
Assistant Vice President
Signature
/s/ Jonathan C. Harris
Stock symbol
MBI
Transactions as of
Mar 3, 2023
Transactions value $
$648,493
Form type
4
Date filed
3/7/2023, 04:29 PM
Previous filing
Jan 9, 2023
Next filing
Dec 28, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MBI Common Stock Award $250K +20.1K +2.27% $12.46 903K Mar 3, 2023 Direct F1, F2
transaction MBI Common Stock Award $398K +32K +3.54% $12.46 935K Mar 3, 2023 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

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 The vesting of the March 2023 performance-based share awards will be contingent on Total Shareholder Return over a three year performance period beginning December 31, 2022 and ending on December 31, 2025. The beginning stock price is the closing share price as of 12/31/22 and ending stock price will be the average stock price over the 60 trading days preceding and including the last day of the performance period. Earned shares will vest in equal installments on the third, fourth and fifth anniversary of the grant date, subject to the NEO's continued employment subject to certain exceptions. Performance-based shares not earned will be forfeited.