Form 4: MGIC Investment Corp Executive Paula Maggio Reports Acquisition of Shares Through Restricted Stock Unit Vesting
SEC Form 4 Filing
Paula Maggio, EVP and General Counsel of MGIC Investment Corp, reports the acquisition of 133,248 shares of common stock through the vesting of restricted stock units.
Summary
- On February 26, 2025, Paula C Maggio, EVP and General Counsel of MGIC Investment Corp, acquired 133,248 shares of common stock.
- These shares were obtained through the vesting of a restricted stock unit (RSU) award granted on February 4, 2022.
- The vesting of these RSUs was contingent upon performance-based restrictions related to the growth in adjusted book value per share, which has been approved by the Issuer's Board committee.
- Provided continued employment, the shares will be issued to the Reporting Person on February 28, 2025.
- Maggio also indirectly owns 86,896 shares through an individual trust.
- Following the reported transaction, Maggio directly owns 260,127.68 shares of MGIC Investment Corp common stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. The vesting of RSUs suggests the company met performance targets, and the increased ownership reflects confidence from a key executive. However, it's a routine transaction.
Positives
- The vesting of RSUs indicates that performance targets related to adjusted book value per share growth were met, which is a positive sign for the company's financial health.
- The increase in Maggio's shareholding demonstrates confidence in the company's future prospects.
Future Outlook
The document does not contain specific forward-looking statements beyond the planned issuance of shares on February 28, 2025, contingent upon continued employment.
Industry Context
Form 4 filings are routine disclosures related to insider transactions and are a standard part of corporate governance and regulatory compliance. This filing indicates executive compensation and ownership changes within MGIC Investment Corp.
Stakeholder Impact
- The transaction could have a minor positive impact on shareholder sentiment, as it signals confidence from a key executive.
Next Steps
- The shares will be issued to Paula Maggio on February 28, 2025, provided continued employment.
Key Dates
| Date | Description |
|---|---|
| 02/04/2022 | Date of restricted stock unit award grant |
| 02/26/2025 | Date of transaction (acquisition of shares through RSU vesting) |
| 02/27/2025 | Date of signature on the Form 4 |
| 02/28/2025 | Date shares will be issued to the Reporting Person |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.