GILBERT STEVEN J 4

What Happened

• Steven J. Gilbert, a director of MBIA Inc. (MBI), was granted 16,181 restricted shares on May 12, 2026. The grant price is $6.18 per share, for a total award value of $99,999. The Form 4 reports this as an acquisition/award (transaction code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-12; grant price: $6.18 per share; total value: $99,999.
• Vesting: Restricted stock with a 1-year cliff vesting on May 12, 2027 (see footnote).
• Shares owned after transaction: Not specified in the information provided in this summary.
• Filing: Form 4 filed 2026-05-13 (no late-filing indication in the provided data).
• Notes: These are restricted stock awards (subject to forfeiture until vesting). Transaction code A = Award/Grant.

Context

• Restricted stock awards are typically compensation/retention tools and do not represent an open-market purchase by the insider. Because of the one-year cliff, Gilbert cannot freely sell these shares until they vest (unless other rules apply). This grant increases insider ownership contingent on continued service rather than signaling an immediate personal investment decision.