<SEC-DOCUMENT>0001157523-12-003378.txt : 20120619
<SEC-HEADER>0001157523-12-003378.hdr.sgml : 20120619
<ACCEPTANCE-DATETIME>20120619171224
ACCESSION NUMBER:		0001157523-12-003378
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120619
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120619
DATE AS OF CHANGE:		20120619

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MBIA INC
		CENTRAL INDEX KEY:			0000814585
		STANDARD INDUSTRIAL CLASSIFICATION:	SURETY INSURANCE [6351]
		IRS NUMBER:				061185706
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09583
		FILM NUMBER:		12915740

	BUSINESS ADDRESS:	
		STREET 1:		113 KING ST
		CITY:			ARMONK
		STATE:			NY
		ZIP:			10504
		BUSINESS PHONE:		914-273-4545

	MAIL ADDRESS:	
		STREET 1:		113 KING ST
		CITY:			ARMONK
		STATE:			NY
		ZIP:			10504
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50316519.htm
<DESCRIPTION>MBIA INC. 8-K
<TEXT>
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      <br>
      <font style="font-family: Times New Roman; font-size: 18pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><font style="font-family: Times New Roman; font-size: 14pt"><b>Washington,
      D.C. 20549</b></font><br><br><font style="font-family: Times New Roman; font-size: 18pt"><b>FORM
      8-K</b></font><br><br><font style="font-family: Times New Roman; font-size: 14pt"><b>CURRENT
      REPORT</b></font><br><br><font style="font-family: Times New Roman; font-size: 10pt">Pursuant
      to Section 13 or 15(d) of</font><br><font style="font-family: Times New Roman; font-size: 10pt">
      the Securities Exchange Act of 1934</font><br><br><br><font style="font-family: Times New Roman; font-size: 10pt">Date
      of Report (Date of earliest event reported): June 19, 2012&#160;</font><br><br><font style="font-size: 18pt"><b>MBIA
      INC.</b></font><br><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      name of registrant as specified in its charter)</font><br><br>
    </p>
    <div style="text-align:center">
    <table style="margin-left:auto;margin-right:auto; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="bottom" style="text-align: center; width: 33%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Connecticut</b>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-right: 0.0px; width: 34%; white-space: nowrap; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>1-9583</b>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-right: 0.0px; width: 33%; white-space: nowrap; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>06-1185706</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; width: 33%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction of
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            incorporation)
          </p>
        </td>
        <td valign="top" style="text-align: center; width: 34%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File Number)
          </p>
        </td>
        <td valign="top" style="text-align: center; width: 33%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (IRS Employer Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>

    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="bottom" style="text-align: center; width: 50%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>113 King Street,<br>Armonk, New York</b>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-right: 0.0px; width: 50%; white-space: nowrap; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>10504</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; width: 50%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Address
            of principal executive offices)</font>
          </p>
        </td>
        <td valign="bottom" style="text-align: center; width: 50%; padding-left: 0.0px">
          <font style="font-size: 10pt; font-family: Times New Roman">(Zip
          Code)</font>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman">Registrant&#8217;s
      telephone number, including area code:</font><br><b>914-273-4545</b><br><br><br><b>Not
      Applicable</b><br><font style="font-size: 10pt; font-family: Times New Roman">(Former
      name or former address, if changed since last report)</font><br><br><br>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">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:</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font><br>
    </p>
    <hr style="text-align: center; height: 1.0 pt; color: #000000; width: 100%">


    <p>

    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Item 5.02.&#160;&#160;Departure of Directors or Principal Officers; Election of
      Directors; Appointment of Principal Officers.
    </p>
    <p style="text-align: justify">
      (d) Election of Director.
    </p>
    <p>
      On June 19, 2012, the Board of Directors of MBIA Inc. (&#8220;MBIA&#8221;) elected
      Maryann Bruce as a member of MBIA's Board of Directors.&#160;&#160;In connection
      with Ms. Bruce&#8217;s election, the Board of Directors increased its size
      from eight to nine directors.
    </p>
    <p>
      MBIA&#8217;s Board of Directors has determined that Ms. Bruce is an
      Independent Director under the independence standards set forth in the
      New York Stock Exchange Corporate Governance Listing Standards and in
      the MBIA Inc. Board Corporate Governance Practices.
    </p>
    <p>
      Ms. Bruce will participate in the compensation and benefit program for
      independent directors as described under the heading &#8220;Independent
      Directors&#8217; compensation&#8221; in MBIA&#8217;s Proxy Statement for its Annual
      Meeting of Shareholders held on May 1, 2012 (filed with the Securities
      and Exchange Commission on March 19, 2012).
    </p>
    <p>
      Item 7.01 Regulation FD Disclosure.
    </p>
    <p>
      A copy of MBIA&#8217;s press release dated June 19, 2012 regarding the
      election of Ms. Bruce as a director is furnished as part of this Current
      Report as Exhibit 99.1.
    </p>
    <p>
      The information in the press release is being furnished, not filed,
      pursuant to Item 7.01 of Form 8-K. Accordingly, the information in
      Exhibit 99.1 will not be incorporated by reference into any registration
      statement filed by MBIA under the Securities Act of 1933, as amended,
      unless specifically identified therein as being incorporated by
      reference.
    </p>
    <p style="text-align: justify">
      Item 9.01.&#160;&#160;Financial Statements and Exhibits.
    </p>
    <p style="text-align: justify">
      (c) Exhibits.
    </p>
    <p style="text-align: justify; white-space: nowrap">
      99.1&#160;&#160;&#160;&#160;&#160;Press Release issued by MBIA Inc. dated June 19, 2012.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font>
    </p>
    <p style="text-indent: 30.0px; font-family: Times New Roman; font-size: 10pt">
      <font style="font-size: 10pt; font-family: Times New Roman">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.</font>
    </p>
    <p style="text-indent: 30.0px; font-family: Times New Roman; font-size: 10pt">

    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="top" colspan="2" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            MBIA INC.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="top" colspan="2" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; width: 5%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 45%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 3%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>By</b>:
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 47%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>/s/ Ram D. Wertheim</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="text-align: left; width: 47%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Ram D. Wertheim
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="text-align: left; width: 47%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Chief Legal Officer
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 47%">
          &#160;
        </td>
      </tr>
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        <td valign="top" style="text-align: left; width: 5%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date:
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 45%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            June 19, 2012
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 47%">

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      EXHIBIT INDEX TO CURRENT REPORT ON FORM 8-K<br>Dated <font style="font-size: 10pt; font-family: Times New Roman">June
      19, 2012</font><br><br><br>
    </p>
    <p style="text-align: center">

    </p>
    <div style="text-align:center">
    <table style="margin-left:auto;margin-right:auto; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: left; width: 20%; padding-left: 0.0px">
          Exhibit 99.1
        </td>
        <td valign="top" style="text-align: left; width: 80%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release issued by MBIA Inc. dated June 19, 2012.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50316519-ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p>
      <u><font style="font-family: Times New Roman; font-size: 12pt"><b>Maryann
      Bruce Elected to MBIA&#8217;s Board of Directors</b></font></u>
    </p>
    <p>
      ARMONK, N.Y.--(BUSINESS WIRE)--June 19, 2012--MBIA Inc. (NYSE: MBI)
      today announced that Maryann Bruce (52) was elected to MBIA&#8217;s board of
      directors in accordance with the board&#8217;s power under MBIA Inc.&#8217;s by-laws
      to fill interim vacancies. Ms. Bruce is the President of Turnberry
      Advisory Group, a private business services company, where she advises
      clients on strategic business issues.
    </p>
    <p>
      MBIA Chairman Daniel P. Kearney said, &#8220;Maryann&#8217;s 30 years of executive
      leadership and board-level experience in the financial services
      industry, as well as her experience in governance, strategy, asset
      management and risk management will be invaluable to MBIA and its
      shareholders as we work toward re-establishing ourselves as a leader in
      the financial guarantee industry. We&#8217;re pleased to welcome her to our
      board and look forward to her many contributions.&#8221;
    </p>
    <p>
      Prior to Turnberry Advisory Group, Ms. Bruce held several executive
      leadership positions including President of Aquila Distributors, Inc., a
      subsidiary of Aquila Investment Management LLC, a boutique asset
      manager, and President of Evergreen Investments Services, Inc., an
      investment management business and subsidiary of Wachovia. In addition,
      Ms. Bruce served as a member of Evergreen Investments&#8217; Executive
      Committee, providing strategic direction and firm-wide positioning. Ms.
      Bruce was also President and CEO of Allstate Financial Distributors and
      Senior Vice President and Director of the Financial Institution Division
      of OppenheimerFunds.
    </p>
    <p>
      Ms. Bruce is an Independent Director for Allianz Funds and serves on the
      Governing Board of The Committee of 200 and the Advisory Board of Duke
      University Libraries. She is a member of the Independent Directors
      Council and The National Association of Corporate Directors, as well as
      Founder and Co-Chair of the Charlotte Chapter of Women Corporate
      Directors. Ms. Bruce graduated magna cum laude from Duke University with
      a Bachelor of Arts in Economics.
    </p>
    <p>
      <b>Forward-Looking Statements</b>
    </p>
    <p>
      The information contained in this press release should be read in
      conjunction with our filings made with the Securities and Exchange
      Commission. This release includes statements that are not historical or
      current facts and are &#8220;forward-looking statements&#8221; made pursuant to the
      safe harbor provisions of the Private Securities Litigation Reform Act
      of 1995. The words &#8220;believe,&#8221; &#8220;anticipate,&#8221; &#8220;project,&#8221; &#8220;plan,&#8221; &#8220;expect,&#8221;
      &#8220;intend,&#8221; &#8220;will likely result,&#8221; &#8220;looking forward&#8221; or &#8220;will continue,&#8221;
      and similar expressions identify forward-looking statements. These
      statements are subject to certain risks and uncertainties that could
      cause actual results to differ materially from historical earnings and
      those presently anticipated or projected, including, among other risks
      and uncertainties, whether the Company will realize, or will be delayed
      in realizing, insurance loss recoveries expected in disputes with
      sellers/servicers of RMBS transactions at the levels recorded in its
      financial statements, the possibility that the Company will experience
      severe losses or liquidity needs due to increased deterioration in its
      insurance portfolios and in particular, due to the performance of CDOs
      including multi-sector, CMBS and CRE CDOs and RMBS, the failure to
      obtain regulatory approval to implement our risk reduction and liquidity
      strategies, the possibility that loss reserve estimates are not adequate
      to cover potential claims, the Company&#8217;s ability to access capital and
      the Company&#8217;s exposure to significant fluctuations in liquidity and
      asset values within the global credit markets, in particular in the ALM
      business, the Company&#8217;s ability to fully implement its strategic plan,
      including its ability to achieve high stable ratings for National or any
      other insurance subsidiaries, and the Company&#8217;s ability to commute
      certain of its insured exposures, including as a result of limited
      available liquidity, the Company&#8217;s ability to favorably resolve
      litigation claims against the Company, and changes in general economic
      and competitive conditions. These and other factors that could affect
      financial performance or could cause actual results to differ materially
      from estimates contained in or underlying the Company&#8217;s forward-looking
      statements are discussed under the &#8220;Risk Factors&#8221; section in MBIA Inc.&#8217;s
      most recent Annual Report on Form 10-K and Quarterly Report on Form
      10-Q, which may be updated or amended in the Company&#8217;s subsequent
      filings with the Securities and Exchange Commission. The Company
      cautions readers not to place undue reliance on any such forward-looking
      statements, which speak only to their respective dates. The Company
      undertakes no obligation to publicly correct or update any
      forward-looking statement if it later becomes aware that such result is
      not likely to be achieved.
    </p>
    <p>
      MBIA Inc., headquartered in Armonk, New York is a holding company whose
      subsidiaries provide financial guarantee insurance, as well as related
      reinsurance, advisory and portfolio services, for the public and
      structured finance markets, and asset management advisory services. The
      Company services its clients around the globe with offices in New York,
      Denver, San Francisco, Paris, London, Madrid and Mexico City. Please
      visit MBIA's website at <u>www.mbia.com</u>.
    </p>
    <p>
      CONTACT:<br><b>MBIA Inc.</b><br><b>Media:</b><br>Kevin Brown,
      +1-914-765-3648<br>or<br><b>Investor Relations:</b><br>Greg Diamond<b>,</b>
      +1-914-765-3190
    </p>
    <p>

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