Form 4: MBIA AVP Bergonzi Boosts Stake with Performance Shares

MBIA Assistant Vice President Adam T. Bergonzi acquired 6,771 shares of common stock as part of a performance and dividend value grant, increasing his total beneficial ownership to 850,255 shares.

Summary

• Adam T. Bergonzi, Assistant Vice President at MBIA INC., reported the acquisition of 6,771 shares of common stock.
• The transaction occurred on December 31, 2025, with an acquisition price of $7.16 per share.
• These shares are additional performance shares and dividend value shares added to an original grant made on March 3, 2023.
• Following this transaction, Mr. Bergonzi's total beneficial ownership of MBIA common stock stands at 850,255 shares.
• The newly added shares, along with the original performance shares, will vest in three equal installments: 1/3 on March 3, 2026, 1/3 on March 3, 2027, and the final 1/3 on March 3, 2028.

Sentiment

Score: 7

Explanation: The acquisition of shares by an Assistant Vice President, particularly when tied to performance and dividend value, is generally a positive signal of insider confidence and alignment with company goals, though it is a routine compensation event rather than an open market purchase.

Positives

• Assistant Vice President Adam T. Bergonzi acquired 6,771 shares of MBIA INC. common stock, indicating increased insider ownership.
• The acquisition is tied to target performance and dividend value, suggesting achievement of company goals or a positive outlook.
• The total beneficial ownership of 850,255 shares demonstrates a significant stake held by a key officer, aligning his interests with long-term shareholder value.

Risks

• The vesting of the acquired shares is contingent on future dates (March 3, 2026, 2027, and 2028), meaning the full benefit is not immediately realized and depends on continued employment and potentially other conditions of the original grant.

Future Outlook

The vesting schedule extending to March 2028 suggests a long-term incentive structure for the Assistant Vice President, aligning management's interests with the company's sustained performance over several years.

Industry Context

Insider stock acquisitions, especially those tied to performance, are common in the financial services industry as a means to align executive incentives with shareholder value creation. This transaction reflects a standard compensation practice within the sector.

Comparison to Industry Standards

• NA (A Form 4 filing primarily reports a transaction and does not typically provide sufficient detail for a direct comparison of compensation structures or performance metrics against specific industry peers or global benchmarks without additional context from other filings like proxy statements.)

Stakeholder Impact

• Shareholders: Increased insider ownership may signal management confidence in the company's future performance and long-term value creation.
• Employees: The performance-based nature of the grant indicates a structured compensation plan for key personnel, potentially fostering motivation and retention.

Next Steps

• Vesting of 1/3 of the total performance shares on March 3, 2026.
• Vesting of 1/3 of the total performance shares on March 3, 2027.
• Vesting of the final 1/3 of the total performance shares on March 3, 2028.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of shares by an Assistant Vice President as part of a performance and dividend value grant. While insider buying can be a positive signal, this specific transaction is a compensation event rather than an open market purchase, and thus does not provide a strong enough catalyst to alter an existing investment thesis. It primarily confirms the ongoing alignment of management incentives with long-term company performance.

Keywords

MBIA, MBI, Form 4, insider trading, stock acquisition, performance shares, executive compensation, beneficial ownership, vesting