Current Report Filing (8-k)
November 29 2016 - 5:15PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 29, 2016 (November 28, 2016)
MBIA INC.
(Exact name
of registrant as specified in its charter)
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Connecticut
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1-9583
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06-1185706
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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1 Manhattanville Road, Suite 301
Purchase, New York
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10577
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(Address of principal executive offices)
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(Zip Code)
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Registrants telephone number, including area code:
914-273-4545
Not
Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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MBIA Inc. (the Company) was advised by its Chief Executive Officer, Jay
Brown, that Mr. Brown sold 248,433 shares of the Companys stock in open market transactions on Monday, November 28, 2016. The stock was sold pursuant to a trading plan adopted by Mr. Brown on March 9, 2016 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 for tax
planning purposes for 2016 to offset capital gains realized by Mr. Brown in connection with the sale in 2016 of non-Company securities as well as to reimburse Mr. Brown for taxes paid by Mr. Brown in cash, in lieu of by means of net
settlement, in connection with the vesting of 750,000 shares of restricted stock on December 31, 2015. The transaction will be reported through Form 144 and Form 4 filings made with the Securities and Exchange Commission, as appropriate.
The Company undertakes no obligation to make any future disclosures in a Form 8-K in connection with any sales or purchases of Company stock by Mr. Brown
or by any other executive officer. In addition, except as may be required by law, the Company does not undertake to report on specific Rule 10b5-1 plans of the Companys officers or directors, nor to report modifications or terminations of such
plans.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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MBIA INC.
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By:
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/s/ Ram D. Wertheim
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Ram D. Wertheim
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Chief Legal Officer
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Date: November 29, 2016
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