Form 4: MGIC Director Acquires Shares, Share Units

MGIC Investment Corp. Director Jay C. Hartzell acquired additional common stock and share units through dividend reinvestment, effective November 20, 2025.

Summary

• Director Jay C. Hartzell acquired 160.644 shares of Common Stock.
• These shares were acquired as dividends paid on Restricted Stock Units awarded under the Issuer's Omnibus Incentive Plan, with no price paid by the reporting person.
• Following this transaction, Hartzell directly beneficially owns 29,954.8631 shares of Common Stock.
• Hartzell also acquired 104.72 Share Units, which correspond to shares of Common Stock.
• These Share Units were acquired through phantom dividend reinvestment under the MGIC Investment Corporation Deferred Compensation Plan for Non-Employee Directors, with no price paid.
• The Share Units' value is based on a one-for-one basis on the Issuer's common stock price on the New York Stock Exchange and are settled in cash on a specified date unless a qualified election for later distribution is made.
• Following this transaction, Hartzell directly beneficially owns 19,526.7936 Share Units.
• The transactions are effective November 20, 2025, and were made pursuant to a Rule 10b5-1 plan.

Sentiment

Score: 7

Explanation: The acquisition of additional shares and share units by a director, even if non-discretionary, generally signals continued alignment of interests and confidence in the company's long-term prospects. The transaction being part of a 10b5-1 plan makes it a routine, expected event.

Positives

• Director Jay C. Hartzell increased his beneficial ownership of common stock and share units, indicating continued alignment with shareholder interests.
• The acquisitions are non-discretionary, resulting from dividend reinvestment on existing awards and deferred compensation plan units.

Future Outlook

NA

Industry Context

This routine insider transaction, involving a director's acquisition of shares and share units through dividend reinvestment, is a common occurrence in the financial services and insurance industry, particularly for companies with established executive compensation and deferred compensation plans. It generally reflects ongoing participation in company equity programs rather than a discretionary market purchase, and does not indicate a specific shift in broader industry trends.

Related Party Transactions

• The acquisition of Share Units is part of the MGIC Investment Corporation Deferred Compensation Plan for Non-Employee Directors, which is a standard compensation arrangement for directors.

Stakeholder Impact

• Shareholders: Increased director ownership may be viewed positively as it aligns management interests with shareholder value.
• Employees: No direct impact on employees is indicated by this filing.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary acquisition of shares and share units by a director through dividend reinvestment and a deferred compensation plan, executed under a Rule 10b5-1 plan. While increased insider ownership is generally a positive signal, these specific transactions are not indicative of new discretionary investment decisions or significant changes in company fundamentals. Therefore, it does not provide a strong basis for a 'buy' or 'sell' recommendation, suggesting a 'hold' position is appropriate based solely on this filing.

Keywords

MGIC Investment Corp, MTG, Form 4, Insider Trading, Director Ownership, Share Units, Dividend Reinvestment, Restricted Stock Units, Deferred Compensation, Jay C. Hartzell, 10b5-1 Plan