Goodyear Tire & Rubr Co SEC Filings

Dillard’s, Inc. (DDS) Form 4 filing dated 07/02/2025 discloses a modest open-market purchase by long-time insider Drue Matheny, Executive Vice President and Director. On 06/30/2025 Matheny acquired 19 Class A common shares at $413.32 each, increasing her direct holding to 403,904 shares. She also continues to hold 36,648 shares through the company retirement plan and 9,821 shares indirectly (7,300 as trustee of the GST Trust and 2,521 held by her spouse). No derivative transactions were reported.

The purchase represents less than 0.005% of her direct ownership and is immaterial to DDS’s 17 million share float, yet any insider buying—particularly by a senior executive—may be interpreted as a confidence signal. There were no sales, option exercises, or 10b5-1 plan indications, and the filing confirms her continuing status as both officer and director.

Morgan Stanley Finance LLC (ticker: MS) has filed Amendment No. 1 to Pricing Supplement No. 8,667 for a $440,000 follow-on issuance of Dual Directional Buffered PLUS notes (CUSIP 61778KD61) that will be consolidated with the original $310,000 tranche, bringing the total outstanding to $750,000. The five-year structured notes, due 28 Jun 2030, are unsecured and fully guaranteed by Morgan Stanley.

Key economic terms

• Issue price: $1,000; minimum denomination $1,000.
• Estimated value on pricing date: $943.80 (reflecting structuring & hedging costs).
• Underlying indices: DJIA (INDU 42,982.43), Nasdaq-100 (NDX 22,237.74) and Russell 2000 (RTY 2,136.185).
• Leverage factor: 140% on any positive performance of the worst-performing index.
• Absolute return participation: 100% of any decline up to 20%, effectively capping gain from this feature at 20%.
• Buffer: 20% downside protection; losses begin once the worst performing index falls below 80% of its initial level.
• Minimum maturity payment: 20% of principal.
• No periodic coupons; payment occurs only at maturity.

Cash-flow profile

• Upside scenario: final level > initial level → principal plus 1.4× index appreciation.
• Moderate downside: final level between 80% and 100% of initial → principal plus up to 20% gain.
• Severe downside: final level < 80% of initial → 1:1 loss beyond buffer, floor at 20% of principal.

Placement economics: Investors pay a 3.5% sales commission ($35 per note); net proceeds to Morgan Stanley are $965 per note. The notes will not be listed, and secondary liquidity depends solely on MS & Co., which may discontinue market making at any time.

Risk highlights

• Principal at risk; no interim interest.
• Performance driven solely by the worst performing index, eliminating diversification benefits.
• Credit exposure to Morgan Stanley; notes rank pari passu with other unsecured obligations.
• Estimated value below issue price indicates negative carry at inception.
• Tax treatment uncertain; counsel views notes as prepaid financial contracts, but IRS may disagree.

Strategic context: At $0.75 million aggregate size, the issuance is immaterial to Morgan Stanley’s capital structure but offers the bank low-cost funding while transferring market risk to investors.

MGIC Investment Corp. (MTG) – Form 4 insider transaction

President & COO Salvatore A. Miosi disclosed the sale of 30,000 shares of common stock on 01-Jul-2025 at a weighted-average price of $28.152 per share, generating roughly $0.84 million in proceeds. The disposition was executed under a Rule 10b5-1 trading plan adopted on 06-Mar-2025, indicating the sale was pre-scheduled and not necessarily driven by near-term information.

After the transaction, Miosi directly owns 279,401.361 shares and indirectly controls 384,844 shares via a family trust, maintaining a sizable equity stake. No derivative security activity was reported, and the filing contains no references to earnings, major corporate events, or strategic changes.

The filing primarily records a routine adjustment to the executive’s equity exposure; in isolation, it is unlikely to materially affect the company’s fundamental outlook.