SEC Form 4 · accession 0000876437-16-000096
MGIC INVESTMENT CORP · MTG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gregory A. Chi
Officer — SVP-Chief Information Officer
Period of report
Jan 25, 2016
Accepted (ET)
Jan 26, 2016 · 9:09 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000876437
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jan 25, 2016 | A | 26,400 | $0.00 | A | 176,460 | D | |
| Common StockF3,F4,F2 | Jan 25, 2016 | A | 17,600 | $0.00 | A | 194,060 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1These share units are subject to certain restrictions, and vest when such restrictions lapse. Partial vesting of these share units occurs on March 4 of each of the three years beginning in 2017, based on certain performance standards. If it is not possible to determine whether the performance standards have been met on any particular vesting date, the vesting date will be extended until such determination can be made. Any of these share units which have not vested when the final vesting is determined in 2019 will be forfeited.
- F2These shares units were awarded to the reporting person pursuant to the Issuer's 2015 Omnibus Incentive Plan and no price was paid by the reporting person for the share units.
- F3If the compensation of this reporting person is projected to be subject to Internal Revenue Code 162(m) at the time of vesting, these share units will be subject to certain restrictions, and will vest when such restrictions lapse. In such case, one-third of these share units vest on February 10 of each of the three years beginning in 2017, subject to certain performance standards. If it is not possible to determine whether the performance standards have been met on any particular vesting date, the vesting date will be extended until such determination can be made. Any of these share units not vested as of February 10, 2019, may vest over the next two years if the performance standards are then satisfied. Any of these share units not vested as of February 10, 2021, will be forfeited.
- F4If the compensation of this reporting person is not projected to be subject to Internal Revenue Code 162(m) at the time of vesting, one-third of these share units vest on February 10 of each of the three years beginning in 2017, subject to the reporting person's continued employment with the Issuer.
Remarks
This Form 4 is being signed by the reporting person's attorney-in-fact pursuant to a previously filed power of attorney.