Form 4: MGIC Investment Corp CEO Acquires Shares Through Restricted Stock Unit Vesting
SEC Form 4 Filing
Timothy J. Mattke, CEO of MGIC Investment Corp, reports acquisition of shares through vesting of restricted stock units.
Summary
- Timothy J. Mattke, the CEO of MGIC Investment Corporation, has reported a transaction involving the acquisition of 517,466 shares of common stock on February 26, 2025.
- These shares were obtained through the vesting of restricted stock units (RSUs) that were initially granted on February 4, 2022.
- The RSUs are subject to performance-vesting restrictions based on the growth in adjusted book value per share.
- The appropriate committee of the Issuer's Board has approved the performance related to these shares.
- Provided continued employment, the shares will be issued to the Reporting Person on February 28, 2025.
- Following the transaction, Mattke beneficially owns 1,483,436.401 shares of MGIC Investment Corp.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. The vesting of RSUs suggests that performance targets have been met, which is a positive indicator. The increased ownership by the CEO can also be viewed favorably.
Positives
- The vesting of RSUs indicates that performance targets related to adjusted book value per share growth have been met, as approved by the Issuer's Board committee.
- The acquisition increases the CEO's stake in the company, potentially aligning his interests further with those of shareholders.
Future Outlook
The shares will be issued to the Reporting Person on February 28, 2025, provided continued employment.
Industry Context
This filing is a routine disclosure related to executive compensation and equity ownership, common in publicly traded companies. It reflects the alignment of executive incentives with company performance.
Stakeholder Impact
- Shareholders may view the increased ownership by the CEO as a positive sign, aligning his interests with theirs.
- Employees may see the vesting of RSUs as an indicator of the company's success in meeting its performance goals.
Key Dates
| Date | Description |
|---|---|
| 02/04/2022 | Date the restricted stock unit award was granted to the Reporting Person |
| 02/26/2025 | Transaction date of the acquisition of shares through RSU vesting |
| 02/27/2025 | Date of signature for the Form 4 filing |
| 02/28/2025 | Date the shares will be issued to the Reporting Person, provided continued employment |
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