secwatch.observer — SEC 8-K summary
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Issuer:     MBIA INC (MBI)
CIK:        0000814585
Form:       8-K
Filed at:   2024-03-07T23:59:59+00:00
Accession:  0001193125-24-062166
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MBIA CFO Anthony McKiernan to step down April 30; Joseph Schachinger named successor
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- CFO Anthony McKiernan will resign effective April 30, 2024 under a Separation Agreement.
- Joseph Schachinger, current Controller since 2017, will replace McKiernan as CFO on April 30, 2024.
- McKiernan receives $750,000 severance, $750,000 in lieu of 2023 LTI, and pro-rata 2024 bonus of $200,000.
- 571,533 time-based restricted stock shares and 77,488 earned performance shares fully vest; 68,058 unearned shares remain outstanding.
- McKiernan also gets $104,467 pension contribution payment (payable after March 1, 2025) and up to 9 months COBRA coverage.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814585/000119312524062166/0001193125-24-062166-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814585/000119312524062166/d809086d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-062166

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