[Form 4] MGIC Investment Corp. Insider Trading Activity

Rhea-AI Filing Summary

Curt S. Culver, a director of MGIC Investment Corporation (MTG), reported an acquisition on 08/21/2025 of 26.995 shares of Common Stock attributable to dividends paid on Restricted Stock Units under the issuer's Omnibus Incentive Plan; no cash was paid for these shares. After the transaction the reporting person beneficially owned 16,480.1334 shares directly and 323,576 shares indirectly through a family trust. The Form 4 was signed by an attorney-in-fact on 08/22/2025. The filing indicates ordinary equity compensation activity rather than an open-market purchase or sale.

Positive

• Disclosure compliance: The reporting person filed a timely Form 4 disclosing the RSU dividend conversion, maintaining transparency.
• Alignment with shareholders: Director retains substantial combined holdings (~340,056 shares total), mostly indirectly via family trust, which aligns interests with shareholders.

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine equity compensation conversion; small direct share increase, material indirect holdings remain via family trust.

The filing documents a non-market acquisition of 26.995 shares resulting from dividends on Restricted Stock Units, with no cash paid. This is compensation-related share issuance and does not signal a discretionary open-market buy or sell by the director. The reporter retains substantial combined ownership (roughly 340k+ shares total), mostly indirect via a family trust, which preserves alignment with shareholder interests but does not materially change control or leverage.

Corporate Governance Expert

TL;DR: Standard insider disclosure for RSU dividend reinvestment; governance impact is neutral.

The Form 4 properly discloses the conversion of dividend payments on RSUs into common shares and reports both direct and indirect beneficial ownership. The transaction was processed under the issuer's Omnibus Incentive Plan and documented via attorney-in-fact signature, reflecting routine compliance with Section 16 reporting. There are no indications of unusual timing or material corporate governance concerns in this filing.

08/22/2025 - 02:27 PM

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
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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^*

CULVER CURT S

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2025

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	08/21/2025		A		26.995	A	(1)	16,480.1334	D
Common Stock								323,576	I	By a Family Trust

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. Dividends paid on Restricted Stock Units awarded under the Issuer's Omnibus Incentive Plan. No price was paid by the reporting person for them.

Remarks:

	Leslie A. Schunk, Attorney-in-Fact	08/22/2025
	** 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 Curt S. Culver report on Form 4 for MTG?

The filing reports an acquisition of 26.995 shares on 08/21/2025 attributable to dividends on Restricted Stock Units; no purchase price was paid.

How many MGIC (MTG) shares does the reporting person beneficially own after the transaction?

The Form 4 shows 16,480.1334 shares held directly and 323,576 shares held indirectly through a family trust.

Was this Form 4 transaction an open-market trade for MTG stock?

No. The filing states the shares resulted from dividends on RSUs under the Omnibus Incentive Plan, not an open-market purchase or sale.

Did Curt S. Culver pay cash for the shares reported on the Form 4?

No. The filing expressly states no price was paid for the shares received as dividends on Restricted Stock Units.

Who signed the Form 4 for the reporting person?

The Form 4 was signed by Leslie A. Schunk, Attorney-in-Fact on 08/22/2025.