MBIA INC — Director's Dealing 2013

Feb 20, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MBIA INC (MBI)
CIK: 0000814585
Period of Report: 2013-02-18

Reporting Person: BROWN JOSEPH W (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-02-18	Common Stock	D	2925990	—	Disposed	703456	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	749000	Indirect

Footnotes

F1: Represents forfeiture of restricted stock originally granted pursuant to approval at Annual Shareholders Meeting on May 1, 2008. The grant provided for full forfeiture of restricted stock if the Company's common stock did not maintain an average closing share price in excess of $16.20 on each day of a consecutive 20-day period on or before February 18, 2013. Such condition was not met resulting in the forfeiture of these shares.

F2: The reporting person disclaimed beneficial ownership of these shares.