MBIA INC — Director's Dealing 2010

Mar 8, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MBIA INC (MBI)
CIK: 0000814585
Period of Report: 2010-03-04

Reporting Person: Fallon William C (President & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-04	Common Stock	A	300000	$5.05	Acquired	360281	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-03-04	Employee Stock Option (right to buy)	$5.05	A	200000	Acquired	2017-03-04	Common Stock (200000)	Direct

Footnotes

F1: Restricted stock granted pursuant to long-term incentive award under 16b-3 exemption. The restricted stock vests in one-third increments on each of the third, fourth and fifth anniversaries of the date of grant.

F2: Options granted pursuant to the Company's 2005 Omnibus Incentive Plan. The options vest in their entirety on the fifth anniversary of the grant date and expire on the seventh anniversary of the grant date.