[Form 4] MGIC INVESTMENT CORP Insider Trading Activity

Rhea-AI Filing Summary

Timothy J. Mattke, who serves as Chief Executive Officer and a Director of MGIC Investment Corporation (MTG), disclosed a sale of common stock on 10/07/2025. The report shows 139,203 shares were sold under a Rule 10b5-1 trading plan adopted on 05/06/2025 at a weighted average price of $27.0948, with transaction prices ranging from $26.990 to $27.340. After the reported sale, the filing shows beneficial ownership of 961,791.401 shares. The filer states the sale was effected pursuant to the 10b5-1 plan and offers to provide a breakdown of shares sold at each price in the stated range upon request.

Positive

• Sale executed under a Rule 10b5-1 plan, indicating pre-arranged trading and reducing insider trading risk.
• Full disclosure provided including weighted average price and price range, and offer to supply trade-level breakdown to investors or SEC staff.

Negative

• Large single-day sale of 139,203 shares by the CEO/Director, reducing beneficial holdings to 961,791.401 shares, which may affect investor perception of insider alignment.

Insights

Corporate Governance Analyst

Insider used a pre-established plan to sell significant shares, maintaining formal disclosure compliance.

The sale of 139,203 shares by the CEO and Director was effected under a Rule 10b5-1 trading plan adopted on 05/06/2025, which provides an affirmative defense against insider trading claims when properly implemented. The filing discloses a weighted average sale price of $27.0948 and a per-trade price range of $26.990 to $27.340.

Key dependencies include the plan's adoption date and any blackout-period exceptions; the filing's clear 10b5-1 statement reduces governance risk by documenting pre-approval. Investors may monitor subsequent Form 4s for additional plan-based activity over the next 12 months.

Equity Impact Analyst

The transaction meaningfully reduced insider holdings, which could modestly affect perceived insider alignment.

The reported disposal reduced the reporting person's beneficial holdings to 961,791.401 shares after selling 139,203 shares. That absolute sale size is material for an individual insider and may influence market perception of insider alignment, depending on prior holdings and total float.

Watch for additional disclosures that state remaining plan parameters or further sales within 90 days to assess whether this is routine liquidity under the plan or part of a larger, staged divestiture.

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).

X

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^*

Mattke Timothy J.

(Last) (First) (Middle)

C/O MGIC INVESTMENT CORPORATION

250 EAST KILBOURN AVENUE

(Street)

MILWAUKEE WI 53202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MGIC INVESTMENT CORP [ MTG ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/07/2025

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	10/07/2025		S(1)		139,203	D	$27.0948(2)	961,791.401	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 transaction reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 05/06/2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.990 to $27.340, inclusive. The reporting person undertakes to provide MGIC Investment Corporation, any security holder of MGIC Investment Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Remarks:

	Leslie A. Schunk, Attorney-in-Fact	10/08/2025
	** 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 did MGIC (MTG) insider Timothy J. Mattke sell on 10/07/2025?

The filing reports the sale of 139,203 shares of common stock on 10/07/2025 at a weighted average price of $27.0948.

Was the sale by the insider part of a pre-established trading plan?

Yes. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted on 05/06/2025.

How many shares did the reporting person own after the transaction?

The filing shows beneficial ownership of 961,791.401 shares following the reported transactions.

What price range were the shares sold at?

The reported trades occurred at prices ranging from $26.990 to $27.340, with a weighted average of $27.0948.

Who signed the Form 4 on behalf of the reporting person?

The form was signed by Leslie A. Schunk, Attorney-in-Fact on 10/08/2025.