SEC Form 4 · accession 0000814585-15-000021
MBIA INC · MBI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph W Brown
Officer — Chief Executive Officer · Director
Period of report
Dec 31, 2015
Accepted (ET)
Dec 31, 2015 · 3:56 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000814585
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3 | Dec 31, 2015 | S | 30,000 | $6.4935 | D | 3,733,637 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Shares of Common Stock of MBIA Inc. (the "Company") sold in open market transactions. Mr. Brown advised the Company that the shares were sold for tax planning and liquidity in connection with 750,000 shares of restricted stock that vested on December 31, 2015.
- F2The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $6.48 - $6.51, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
- F3Balance reflects adjustment for retirement plan shares.