652,083-share performance stock award logged by MGIC (MTG) CEO
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
MGIC Investment Corp Chief Executive Officer Timothy J. Mattke reported an acquisition of 652,083 shares of common stock at a price of $0.00 per share. These shares relate to a restricted stock unit award granted on February 3, 2023 under the company’s Omnibus Incentive Plan.
The award is subject to performance-vesting conditions based on growth in adjusted book value per share, which have been approved by a board committee. Provided he remains employed, the shares will be issued to him on the first business day after February 28, 2026, bringing his direct holdings to 1,564,898.401 shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Mattke Timothy J.
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 652,083 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 1,564,898.401 shares (Direct)
Footnotes (1)
- Represents shares of Issuer common stock to be issued under a restricted stock unit award granted to the Reporting Person on February 3, 2023. The award is subject to performance-vesting restrictions based on growth in adjusted book value per share. Performance with respect to the shares reported in Column 4 has been approved by the appropriate committee of Issuer's Board. Provided continued employment, the shares will be issued to the Reporting Person on the first business day following February 28, 2026. These RSUs were awarded to the reporting person pursuant to the Issuer's Omnibus Incentive Plan and no price was paid by the reporting person for them. Due to an administrative error, total shares held were previously underreported by 1 share.
FAQ
What did MGIC (MTG) disclose about CEO Timothy Mattke in this Form 4?
MGIC reported that CEO Timothy J. Mattke acquired 652,083 shares of common stock at $0.00 per share. The shares stem from a performance-based restricted stock unit award granted in 2023 under the Omnibus Incentive Plan, subject to vesting conditions and future issuance.
What correction did MGIC (MTG) note about the CEO’s previously reported holdings?
The filing notes an administrative error that previously underreported total shares held by one share. This correction is disclosed in a footnote, clarifying the accurate post-transaction total of 1,564,898.401 directly held MGIC common shares for CEO Timothy J. Mattke.