MBIA INC — Director's Dealing 2023

Mar 7, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MBIA INC (MBI)
CIK: 0000814585
Period of Report: 2023-03-03

Reporting Person: Fallon William C (Director, CEO & President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-03-03	Common Stock	A	42135	$12.46	Acquired	2628858	Direct
2023-03-03	Common Stock	A	67163	$12.46	Acquired	2696021	Direct

Footnotes

F1: Time based shares that will vest in equal installments on the third, fourth and fifth anniversary of the grant date, subject to the NEO's continued employment on the vesting date (subject to certain exceptions).

F2: Balance reflects adjustment for retirement plan shares

F3: The vesting of the March 2023 performance-based share awards will be contingent on Total Shareholder Return over a three year performance period beginning December 31, 2022 and ending on December 31, 2025. The beginning stock price is the closing share price as of 12/31/22 and ending stock price will be the average stock price over the 60 trading days preceding and including the last day of the performance period. Earned shares will vest in equal installments on the third, fourth and fifth anniversary of the grant date, subject to the NEO's continued employment subject to certain exceptions. Performance-based shares not earned will be forfeited.