MGIC Investment (NYSE: MTG) director receives share units and stock
Rhea-AI Filing Summary
MGIC Investment Corp director C. Edward Chaplin reported awards of additional equity-based compensation. On March 6, he acquired 277.468 Share Units tied to MGIC common stock value and 146.361 shares of Common Stock, both at no cost to him.
The Share Units were credited through phantom dividend reinvestment under MGIC’s deferred compensation plan for non-employee directors and will be settled in cash based on the stock price. Following these awards, Chaplin directly holds 49,814.7341 Share Units and 44,572.8554 shares of Common Stock.
Positive
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Insights
Routine director compensation awards with no open-market trading.
Director C. Edward Chaplin received additional equity-based compensation from MGIC Investment Corp in the form of Share Units and Common Stock. Both entries use transaction code A, indicating grants or awards rather than market purchases.
The 277.468 Share Units are phantom units under a deferred compensation plan, settled in cash and valued one-for-one with MGIC common stock. Footnotes state they arise from phantom dividend reinvestment and carry no exercise price, so they function as cash-settled stock equivalents.
The additional 146.361 shares of Common Stock were also acquired as a grant at no cost. There are no sales, tax withholdings, or option exercises in this filing, and derivativeSummary is empty, so the filing mainly updates Chaplin’s compensation-related holdings without signaling discretionary buying or selling.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Share Units | 277.468 | $0.00 | -- |
| Grant/Award | Common Stock | 146.361 | $0.00 | -- |
Footnotes (1)
- Dividends paid on Restricted Stock Units awarded under the Issuer's Omnibus Incentive Plan. No price was paid by the reporting person for them. The reporting person participates in the MGIC Investment Corporation Deferred Compensation Plan for Non-Employee Directors under which units corresponding to shares of Common Stock of the Issuer ("Share Units") are awarded to the reporting person and/or acquired through compensation deferral. These Share Units do not have a specified dollar-denominated exercise or conversion price. Their value is based, on a one-for-one basis, on the price of the Issuer's common stock on the New York Stock Exchange. These Share Units are settled in cash, on a specified date, unless a qualified election for later distribution is made by the reporting person. These Share Units do not expire on a fixed date. They are settled in cash on a specified date, unless a qualified election for later distribution is made by the reporting person. These Share Units were acquired through phantom dividend reinvestment and no price was paid by the reporting person for the Share Units.