Form 4: MGIC Investment Corp VP-Chief Accounting Officer Julie K. Sperber Reports Acquisition of Common Stock
SEC Form 4
Julie K. Sperber, VP-Chief Accounting Officer of MGIC Investment Corp, reports the acquisition of common stock through the vesting of restricted stock units.
Summary
- On February 26, 2025, Julie K. Sperber, VP-Chief Accounting Officer of MGIC Investment Corporation, acquired common stock through the vesting of restricted stock units (RSUs).
- These RSUs were granted on February 4, 2022 (6,468 shares), February 3, 2023 (1,768 shares), and February 2, 2024 (1,262 shares) under the Issuer's 2020 Omnibus Incentive Plan.
- The vesting of these RSUs is subject to performance-based restrictions related to the growth in adjusted book value per share, and continued employment.
- The shares will be issued to the Reporting Person on February 28, 2025, provided continued employment.
- Following these transactions, Ms. Sperber beneficially owns 84,567.871 shares of MGIC Investment Corp common stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The vesting of RSUs suggests the company is meeting its performance targets, and the executive's continued employment aligns with the company's interests. However, it's a routine transaction.
Positives
- The vesting of RSUs indicates that performance targets related to adjusted book value per share growth have been met.
- Continued employment is a condition for the issuance of shares, aligning the officer's interests with the company's long-term success.
Future Outlook
The reporting person will receive shares on February 28, 2025, provided continued employment.
Industry Context
Form 4 filings are routine disclosures required by the SEC to ensure transparency in insider trading activities. They provide insights into the actions of company executives and their confidence in the company's performance.
Stakeholder Impact
- The transaction has a minor positive impact on shareholders as it indicates that the company is meeting its performance targets.
Key Dates
| Date | Description |
|---|---|
| 2022-02-04 | Date of restricted stock unit award grant (6,468 shares). |
| 2023-02-03 | Date of restricted stock unit award grant (1,768 shares). |
| 2024-02-02 | Date of restricted stock unit award grant (1,262 shares). |
| 2025-02-26 | Transaction date: Acquisition of common stock through RSU vesting. |
| 2025-02-28 | Date shares will be issued to the Reporting Person. |
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