MBIA INC — Director's Dealing 2014

Dec 15, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MBIA INC (MBI)
CIK: 0000814585
Period of Report: 2014-12-12

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-12	Common Stock	S	75000	$9.2782	Disposed	3690768	Direct

Footnotes

F1: Shares of Common Stock of MBIA Inc. (the "Company") sold in open market transactions pursuant to a trading plan adopted by Mr. Brown on September 16, 2014 in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Mr. Brown advised the Company that the shares were sold in connection with tax planning for 2014 and had realized long-term capital losses of approximately $4.5 million that will be used to offset capital gains realized by Mr. Brown in connection with the sale in 2014 of non-Company securities.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $9.10 to $9.41, 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.

F3: Balance reflects adjustment for retirement plan shares.