Form 4: MBIA Inc. Executive Daniel M. Avitabile Reports Share Disposal for Tax Obligations
SEC Form 4 Filing
Daniel M. Avitabile, Assistant Vice President of MBIA Inc., disposed of shares to cover tax liabilities upon vesting of restricted stock.
Summary
- On March 4, 2024, Daniel M. Avitabile, an Assistant Vice President at MBIA Inc., disposed of 8,669 shares of common stock to cover tax obligations.
- The shares were surrendered to the issuer at a price of $6.47 per share.
- Following the transaction, Avitabile beneficially owns 616,901 shares of MBIA Inc.
- The balance of shares beneficially owned reflects an adjustment for retirement plan shares.
Sentiment
Score: 5
Explanation: This is a routine disclosure of share disposal for tax purposes, with no inherent positive or negative implications for the company's overall outlook.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a routine disposal of shares by an officer to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/04/2024 | Date of transaction: Disposal of shares for tax liability. |
| 03/05/2024 | Date of signature by Attorney-in-Fact. |
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