MBIA INC — Director's Dealing 2011

May 5, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MBIA INC (MBI)
CIK: 0000814585
Period of Report: 2011-05-04

Reporting Person: Meyer Laurence H (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-04	Common Stock	M	66474	$9.57	Acquired	97853	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-04	Hypothetical Stock Units	$9.57	A	208.986	Acquired		Common Stock (208.986)	Direct
2011-05-04	Hypothetical Stock Units	$9.57	M	66474.143	Disposed		Common Stock (66474.143)	Direct

Footnotes

F1: Stock issued pursuant to conversion of Hypothetical Share Units under Directors' Deferred Compensation Plan resulting from termination of status as a Director.

F2: Contributions credited to units acquired under Directors' Deferred Compensation Plan for Meeting Fees.

F3: Exercisable and expiration dates of units is date of termination or Reporting Person's status as Director which triggers payment.

F4: Disposition of Hypothetical Share Units through conversion to common stock issued upon termination of status as a Director.