Form 4: MGIC Director Boosts Equity Holdings

MGIC Investment Corp. Director Jodee A. Kozlak acquired additional common stock and share units through dividend reinvestment and incentive plans.

Summary

• Jodee A. Kozlak, a Director of MGIC Investment Corp., acquired 74.557 shares of common stock on November 20, 2025.
• These shares were acquired as dividends paid on Restricted Stock Units under the Issuer's Omnibus Incentive Plan, with no price paid by the reporting person.
• Following this transaction, Kozlak directly beneficially owns 34,417.5201 shares of common stock.
• Kozlak also acquired 157.492 Share Units on November 20, 2025, through phantom dividend reinvestment under the company's Deferred Compensation Plan for Non-Employee Directors.
• No price was paid for these Share Units, which correspond to shares of common stock and are valued one-for-one with the Issuer's common stock price.
• These Share Units are settled in cash on a specified date, unless a qualified election for later distribution is made.
• Following this transaction, Kozlak directly beneficially owns 29,367.1778 Share Units.

Sentiment

Score: 6

Explanation: Slightly positive due to increased insider ownership, albeit through non-cash compensation, indicating continued alignment of interests. The future transaction date is unusual, especially without a 10b5-1 plan indicated, but doesn't inherently change the sentiment of the acquisition itself.

Positives

• Director Jodee A. Kozlak increased her beneficial ownership in MGIC Investment Corp. through the acquisition of 74.557 shares of common stock and 157.492 Share Units.
• The acquisitions are a result of dividend reinvestment and incentive plans, indicating continued participation in company equity programs and alignment of interests.

Future Outlook

Transactions are reported for November 20, 2025, a future date, suggesting pre-arranged acquisitions. However, the checkbox for transactions made pursuant to a Rule 10b5-1 plan is not marked, which is unusual for a future-dated transaction.

Industry Context

This filing represents a routine insider transaction for a director of a mortgage insurance company. Such transactions, particularly those related to compensation plans and dividend reinvestment, are common across industries and typically do not reflect specific industry trends but rather individual compensation structures.

Related Party Transactions

• The acquisitions of common stock and share units by Director Jodee A. Kozlak are considered related party transactions as they involve an insider and the company's equity compensation and deferred compensation plans.

Stakeholder Impact

• Shareholders: Minor positive impact as a director increases their stake, aligning interests with shareholders. No direct impact on customers, employees, suppliers, or creditors from this specific transaction.

Key Dates

Recommendation

This Form 4 reports routine acquisitions of shares and share units by a director through compensation and dividend reinvestment plans. These transactions are not indicative of significant new information regarding the company's operational or financial performance and typically do not warrant a change in investment recommendation. The increase in insider ownership is a minor positive for alignment but does not provide a strong signal for a 'buy' or 'sell' decision.

Keywords

MGIC Investment Corp, MTG, Jodee A. Kozlak, Director, Insider Trading, Form 4, Stock Acquisition, Share Units, Dividend Reinvestment, Restricted Stock Units, Deferred Compensation Plan