Form 4: MBIA director Shasta Theodore reports sale of 6,382 shares

Rhea-AI Filing Summary

Shasta Theodore, a director of MBIA Inc. (MBI), reported a sale of company stock on August 27, 2025. The Form 4 shows 6,382 shares sold at $7.90 per share, and after the reported transaction the reporting person directly beneficially owned 50,146 shares. The filing identifies the reporting person as a director and was signed on behalf of the reporting person by attorney-in-fact William J. Rizzo on August 28, 2025. The footnote clarifies the $7.90 price is the share price on August 27, 2025, and notes the reporting person will provide details about the number of shares sold on request.

Positive

• Transparent disclosure of an insider sale with transaction date, price, and resulting ownership reported
• Post-transaction ownership is disclosed as 50,146 shares, allowing clear assessment of remaining insider stake
• Form executed by attorney-in-fact with signature line present, indicating formal completion

Negative

• Insider sold 6,382 shares, reducing direct holdings
• Footnote lacks a breakdown of the exact number of shares sold versus retained; additional detail is available only upon request

Insights

Financial Analyst

TL;DR: Director sale disclosed; modest share reduction with clear post-transaction ownership.

The Form 4 documents a direct sale of 6,382 common shares at $7.90 per share on 08/27/2025 by a director, leaving direct beneficial ownership of 50,146 shares. For investors monitoring insider activity, this is a transparent disclosure of liquidity by an insider rather than an issuance or grant. The filing includes a footnote specifying the reported price is the share price on the transaction date and offers to provide further detail on the number of shares sold if requested.

Corporate Governance Expert

TL;DR: Form 4 is properly completed by a director and executed by an attorney-in-fact.

The disclosure indicates the reporting person is a director and the form was executed by William J. Rizzo as attorney-in-fact on 08/28/2025. The report includes the required transaction code (S) for a sale and reports both the transaction price and resulting beneficial ownership. The footnote commitment to provide additional details on request supports compliance with disclosure obligations.

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
Estimated average burden
hours per response:			0.5

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)
08/27/2025

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	08/27/2025		S		6,382	D	$7.9(1)	50,146	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 27, 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	08/28/2025
	** 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 director Shasta Theodore report on Form 4?

The director reported a sale of 6,382 shares of MBIA common stock on August 27, 2025 at a price of $7.90 per share.

How many MBIA shares does the reporting person own after the reported transaction?

Following the reported sale, the reporting person directly beneficially owned 50,146 shares.

Who signed the Form 4 for the reporting person and when was it signed?

The Form 4 bears the signature of William J. Rizzo, Attorney-in-Fact, dated 08/28/2025.

What price is reported for the shares sold in the Form 4?

The price reported in Column 4 is the share price on the transaction date: $7.90.

Is there further detail on the number of shares sold available in the filing?

The footnote states the reporting person will provide, upon request, full information regarding the number of shares sold as set forth in the footnote.