MGIC (MTG) Director Reports Dividend-Funded Stock Units and Deferred Compensation Units
Rhea-AI Filing Summary
Chaplin C. Edward, a director of MGIC Investment Corporation (MTG), reported purchases on 08/21/2025. The filing shows acquisition of 113.611 shares of common stock via dividend-paid Restricted Stock Units at no cost, increasing his direct common stock holding to 39,238.3894 shares. The filing also reports acquisition of 267.296 share units under the non-employee director deferred compensation plan, bringing his total share-unit equivalent to 49,271.6041 shares; those units are settled in cash and were acquired through phantom dividend reinvestment with no cash paid. The form was signed by an attorney-in-fact on 08/22/2025.
Positive
- Beneficial ownership increased through dividend reinvestment and deferred-compensation units, raising total reported economic exposure to the company's stock.
- No cash paid for the awarded Restricted Stock Units and Share Units, indicating these were compensation-related credits rather than market purchases.
Negative
- None.
Insights
TL;DR: Routine director compensation conversions increased reported beneficial ownership without cash outlay.
The Form 4 documents standard director compensation mechanics rather than open-market purchases. Dividend-paid restricted stock units and deferred-compensation share units were credited to the director at no cash cost, which raises reported beneficial ownership levels. Because the share units are settled in cash and reflect phantom dividend reinvestment, they do not represent immediate additional voting stock but do increase economic exposure tied to MTG's share price. This is a non-material, customary disclosure for a non-employee director.
TL;DR: Director received equity-linked compensation components that increased aggregate holdings via reinvested dividends.
The filing clarifies that the 113.611 common shares arose from dividends on restricted stock units and that 267.296 share units were added through the deferred compensation plan. No cash was paid for these units. Such mechanics are typical of omnibus incentive plans and deferred compensation arrangements for non-employee directors, reflecting routine compensation settlement and reinvestment rather than performance-based awards or market purchases.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Share Units | 267.296 | $0.00 | -- |
| Grant/Award | Common Stock | 113.611 | $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.
