[Form 4] MBIA Inc. Insider Trading Activity

Rhea-AI Filing Summary

MBIA Inc. director Shasta Theodore reported a sale of 8,361 shares of MBIA common stock on 08/19/2025 at a price of $6.71 per share, reducing her beneficial holdings to 56,528 shares. The Form 4 indicates the transaction was a direct sale and the reported price is the share price on the transaction date. The filing was signed by an attorney-in-fact on behalf of the reporting person. No derivative transactions or other equity changes are reported in this Form 4.

Positive

• None.

Negative

• Director sale reported: Shasta Theodore sold 8,361 shares on 08/19/2025, which reduced direct beneficial ownership to 56,528 shares.

Insights

Securities Analyst

TL;DR Director sale of 8,361 shares reduces direct holdings to 56,528; transaction appears routine.

The sale on 08/19/2025 at $6.71 per share is clearly disclosed and recorded as a direct disposition. This Form 4 shows no option exercises, derivative activity, or additional acquisitions. As a single-line disclosure by a director, the transaction is informational; it does not, by itself, demonstrate a material change in control or an unusual financing event. Investors should note the reported post‑sale ownership level of 56,528 shares for context.

Corporate Governance Expert

TL;DR Insider sale disclosed; procedural compliance appears met with signed Form 4 and explanatory footnote.

The filing includes an explanatory footnote clarifying the reported price and the reporting person's willingness to provide further detail on the number of shares sold. The Form 4 is signed by an attorney-in-fact, indicating authorized filing procedures were followed. There are no indications in this filing of insider plan trades or Rule 10b5-1 plan designation. From a governance perspective, the document meets disclosure requirements for a director's share sale.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Shasta Theodore

(Last) (First) (Middle)

C/O MBIA INC.

1 MANHATTANVILLE ROAD

(Street)

PURCHASE NY 10577

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MBIA INC [ MBI ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025

4. If Amendment, Date of 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

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/19/2025		S		8,361	D	$6.71(1)	56,528	D

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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is the share price on August 19, 2025. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold as set forth in this footnote.

	/s/ William J. Rizzo, Attorney-in-fact	08/20/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did MBIA (MBI) insider Shasta Theodore report on Form 4?

The filing reports a sale of 8,361 shares of MBIA common stock on 08/19/2025 at a price of $6.71 per share.

How many MBIA shares does Shasta Theodore own after the reported sale?

Following the reported transaction, the filing shows 56,528 shares beneficially owned.

Was the sale reported as direct or indirect ownership on the Form 4?

The transaction is reported as a direct (D) disposition of shares.

Did the Form 4 disclose any derivative transactions or option exercises?

No. The Form 4 contains no derivative securities or option exercises; only the common stock sale is reported.

Who signed the Form 4 filing for Shasta Theodore?

The Form 4 was signed by William J. Rizzo, Attorney-in-fact on 08/20/2025.