Zandi Mark 4

What Happened

• Mark Zandi, a director of MGIC Investment Corporation (MTG), was granted two types of awards on May 21, 2026: 29.075 restricted stock units (RSUs) and 275.606 derivative "share units" (total 304.681 units). Both transactions are reported as awards/grants (transaction code A). No cash was paid by the reporting person for these awards; prices are listed as N/A.

Key Details

• Transaction date: May 21, 2026; Form filed May 22, 2026 (timely).
• Awards: 29.075 RSUs (dividend‑equivalent payments on RSUs) and 275.606 share units (derivative share units under the director deferred compensation plan).
• Price: N/A — units were awarded, not purchased.
• Shares owned after transaction: not specified in the filing.
• Relevant footnotes:
  • RSUs include dividend payments and were granted without payment by the reporting person (F1).
  • The 275.606 units are Share Units from the Deferred Compensation Plan for Non‑Employee Directors (F2) and are valued one‑for‑one to the company’s NYSE common stock price (F3).
  • These Share Units are generally settled in cash on a specified date unless the director elects later distribution (F4, F5).
  • Some Share Units were acquired through phantom dividend reinvestment; no cash was paid (F6).

Context

• These are compensatory awards to a non‑employee director, not open‑market purchases or sales — routine director pay rather than a directional bet by the insider.
• The derivative Share Units do not have an exercise price and are typically cash‑settled, meaning the director receives cash based on the stock price (not actual share delivery) unless a different election is made.
• Such awards are common as part of director compensation; they do not necessarily signal management’s view of near‑term stock performance.