Form 4: MGIC Director Boosts Holdings via Dividend Reinvestment

MGIC Investment Corp. Director Jay C. Hartzell increased his beneficial ownership of common stock and share units through dividend reinvestment.

Summary

• Jay C. Hartzell, a Director of MGIC Investment Corp. (MTG), reported an increase in his beneficial ownership of the company's securities.
• On August 21, 2025, Hartzell acquired 161.632 shares of Common Stock. These shares were obtained through dividends paid on Restricted Stock Units (RSUs) awarded under the Issuer's Omnibus Incentive Plan, with no price paid by the reporting person.
• Additionally, on the same date, Hartzell acquired 105.364 Share Units. These units were acquired through phantom dividend reinvestment under the MGIC Investment Corporation Deferred Compensation Plan for Non-Employee Directors, also with no price paid.
• Following these transactions, Hartzell beneficially owns 29,794.2191 shares of Common Stock and 19,422.0736 Share Units.
• The Share Units' value is based on a one-for-one basis with 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.

Sentiment

Score: 6

Explanation: The filing reports a routine, non-discretionary increase in a director's beneficial ownership through dividend reinvestment. While not a direct open-market purchase, it reflects continued alignment of interests and participation in company equity plans, which is mildly positive.

Positives

• Increased beneficial ownership by a director, Jay C. Hartzell, through dividend reinvestment, indicating continued alignment of interests with shareholders.
• The acquisition of shares and share units occurred without direct cost to the reporting person, reflecting benefits from existing incentive and deferred compensation plans.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This filing is a routine insider transaction report and does not provide information that allows for an analysis of broader industry trends or competitors. It reflects standard compensation practices for non-employee directors in publicly traded companies, often including equity-based awards and deferred compensation plans.

Comparison to Industry Standards

• The acquisition of equity through dividend reinvestment and phantom dividends is a common practice in director compensation plans across various industries. It aligns director interests with shareholder value without requiring direct cash outlay from the director for these specific transactions.
• No specific comparable companies, projects, or results are mentioned in the filing to allow for a detailed comparison.

Stakeholder Impact

• Shareholders: The increase in director's beneficial ownership, even through passive means, generally signals continued alignment of interests between management and shareholders.

Key Dates

Recommendation

This Form 4 reports a routine, non-discretionary acquisition of shares and share units by a director through dividend reinvestment. While it indicates continued alignment of interests, it does not provide new fundamental information to alter an investment thesis, thus a 'hold' recommendation is appropriate based solely on this filing.

Keywords

MGIC Investment Corp, MTG, Form 4, insider transaction, director, Jay C. Hartzell, common stock, share units, dividend reinvestment, beneficial ownership, restricted stock units, deferred compensation plan