<SEC-DOCUMENT>0001157523-18-002421.txt : 20181113
<SEC-HEADER>0001157523-18-002421.hdr.sgml : 20181113
<ACCEPTANCE-DATETIME>20181113163605
ACCESSION NUMBER:		0001157523-18-002421
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20181113
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:		20181113
DATE AS OF CHANGE:		20181113

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:		181178504

	BUSINESS ADDRESS:	
		STREET 1:		1 MANHATTANVILLE ROAD
		STREET 2:		SUITE 301
		CITY:			PURCHASE
		STATE:			NY
		ZIP:			10577
		BUSINESS PHONE:		914-273-4545

	MAIL ADDRESS:	
		STREET 1:		1 MANHATTANVILLE ROAD
		STREET 2:		SUITE 301
		CITY:			PURCHASE
		STATE:			NY
		ZIP:			10577
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51899460.htm
<DESCRIPTION>MBIA INC. 8-K
<TEXT>
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      <font style="font-size: 18pt"><b>UNITED STATES</b></font><br><font style="font-size: 18pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><font style="font-size: 14pt"><b>Washington,
      D.C. 20549</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 18pt"><b>FORM 8-K</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 14pt"><b>CURRENT REPORT</b></font>
    </p>
    <p style="text-align: center">
      Pursuant to Section 13 or 15(d) of<br>the Securities Exchange Act of 1934
    </p>
    <p style="text-align: center">
      Date of Report (Date of earliest event reported): <font style="font-size: 10pt; font-family: Times New Roman">November
      13, 2018</font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 10pt"></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 18pt"><b>MBIA INC.</b></font><br>(Exact name of
      registrant as specified in its charter)
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px">
      <tr>
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          <b>Connecticut</b>
        </td>
        <td style="width: 4%">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: center; padding-left: 0.0px; width: 30%; padding-right: 0.0px">
          <b>1-9583</b>
        </td>
        <td style="width: 4%">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: center; padding-left: 0.0px; width: 31%; padding-right: 0.0px">
          <b>06-1185706</b>
        </td>
      </tr>
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        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 31%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction of<br>incorporation)
          </p>
        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 30%">
          (Commission File Number)
        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 31%">
          (IRS Employer Identification No.)
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <b><br>
      </b>
    </p>
<div style="text-align:left">
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      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 50%">
          <b>1 Manhattanville Road, Suite 301 </b>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Purchase, New York</b>
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: center; padding-left: 0.0px; width: 50%; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>10577</b>
          </p>
        </td>
      </tr>
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        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 50%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Address of principal executive offices)
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 50%">
          (Zip Code)
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      Registrant's telephone number, including area code:<br><b>914-273-4545</b>
    </p>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <b>Not Applicable<br></b>(Former name or former address, if changed
      since last report)
    </p>
    <p>

    </p>
    <p>
      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:
    </p>
    <p>
      <font style="font-size: 12pt; font-family: Arial Unicode MS">&#8414;</font>
      Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)
    </p>
    <p>
      <font style="font-size: 12pt; font-family: Arial Unicode MS">&#8414;</font>
      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
      CFR 240.14a-12)
    </p>
    <p>
      <font style="font-size: 12pt; font-family: Arial Unicode MS">&#8414;</font>
      Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))
    </p>
    <p>
      <font style="font-size: 12pt; font-family: Arial Unicode MS">&#8414;</font>
      Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px">
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405
      of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter).
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px">
      Emerging growth company&#160;&#160;&#9744;
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px">
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act.&#160;&#160;&#9744;
    </p>
    <div style="margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; width: 100%; margin-bottom: 10pt">
      <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="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
    <p style="text-align: left">

    </p>
    <p style="white-space: nowrap">
      <b>Item 5.02.&#160;&#160;Departure of Directors or Principal Officers; Election of
      Directors; Appointment of Principal Officers.</b>
    </p>
    <p style="text-align: justify">
      (d) Election of Director.
    </p>
    <p>
      On November 13, 2018, the Board of Directors of MBIA Inc. (&#8220;MBIA&#8221;)
      elected Diane L. Dewbrey as a member of MBIA's Board of Directors.&#160;&#160;In
      connection with Ms. Dewbrey&#8217;s election, the Board of Directors increased
      its size from six to seven directors.
    </p>
    <p>
      Effective November 13, 2018, the Board of Directors of MBIA Inc.
      appointed Ms. Dewbrey to serve on the Audit, Finance and Risk and
      Compensation and Governance Committees of the Board.
    </p>
    <p style="white-space: nowrap; text-align: justify">
      MBIA&#8217;s Board of Directors has determined that Ms. Dewbrey 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. Dewbrey 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 2, 2018 (filed with the Securities
      and Exchange Commission on March 21, 2018).
    </p>
    <p>

    </p>
    <p style="white-space: nowrap">
      <b>Item 7.01. &#160;Regulation FD Disclosure.&#160;&#160;&#160;&#160;&#160; </b>
    </p>
    <p style="text-align: justify">
      A copy of MBIA&#8217;s press release dated November 13, 2018 regarding the
      election of Ms. Dewbrey 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>

    </p>
    <p style="white-space: nowrap; text-align: justify">
      <b>Item 9.01.&#160;&#160;Financial Statements and Exhibits.</b>
    </p>
    <p style="text-align: justify">
      (c) Exhibits.
    </p>
    <p style="white-space: nowrap; text-align: justify">
      99.1&#160;&#160;&#160;&#160;&#160;Press Release issued by MBIA Inc. dated November 13, 2018.
    </p>
    <p>

    </p>
    <div style="margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; width: 100%; margin-bottom: 10pt">
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          <hr style="color: black; height: 1.5pt">

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

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <b>SIGNATURES</b>
    </p>
    <p style="text-align: left; text-indent: 30.0px">
      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.
    </p>
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          &#160;
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          <p style="margin-top: 0px; margin-bottom: 0px">
            MBIA INC.
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
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        <td style="width: 57%">

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

        </td>
        <td style="width: 30%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 10%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 57%">

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

        </td>
        <td style="width: 30%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 10%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px; width: 57%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px; width: 3%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            By:
          </p>
        </td>
        <td valign="top" style="border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; width: 30%; border-bottom-style: solid">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Jonathan C. Harris
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px; width: 10%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
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        <td style="width: 57%">

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 30%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Jonathan C. Harris
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
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        <td style="width: 57%">

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

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 30%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            General Counsel
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">

    </p>
    <p>
      Date: November 13, 2018
    </p>
    <p>

    </p>
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      <div>
        <div style="text-align: left">

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

        </div>
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          <hr style="color: black; height: 1.5pt">

        </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">November
      13, 2018</font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 10pt"></font>
    </p>
    <p style="text-align: center">

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; font-size: 10pt; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 15%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51899460ex99_1.htm">Exhibit 99.1</a>
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 85%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51899460ex99_1.htm">Press Release issued by MBIA Inc.
            dated November 13, 2018.</a>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51899460ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <u><font style="font-size: 12pt; font-family: Times New Roman"><b>Diane
      L. Dewbrey Elected to MBIA Inc.'s Board of Directors</b></font></u>
    </p>
    <p>

    </p>
    <p>
      PURCHASE, N.Y.--(BUSINESS WIRE)--November 13, 2018--MBIA Inc. (NYSE:MBI)
      (the Company) today announced that on this day, Tuesday, November 13,
      2018, Ms. Diane L. Dewbrey (54) was elected to the Company&#8217;s Board of
      Directors, where she will also serve as a member of the Audit, Finance
      and Risk, and Compensation and Governance Committees.
    </p>
    <p>
      For five years, until its merger with Consolidated Communications in
      2014, Ms. Dewbrey served as an Independent Director and then Chair
      (2013-14) of the Board of Enventis, Inc.
    </p>
    <p>
      &#8220;We are very pleased that Diane has accepted our invitation to join the
      MBIA Board,&#8221; said Charles Rinehart, Chairman of the MBIA Inc. Board of
      Directors. &#8220;Diane has been consistently recognized for her board
      leadership and contributions in community organizations. Additionally,
      we are confident that her knowledge of and experience in the financial
      services industry will contribute to our efforts to enhance MBIA Inc.&#8217;s
      shareholder value.&#8221;
    </p>
    <p>
      Ms. Dewbrey earned her BS degree in Mathematics from Xavier University.
      She is an NACD Governance Fellow and holds a Professional Director
      Certification from the American College of Corporate Directors. Prior to
      serving as a director at Enventis, she held various senior positions at
      Fifth Third Bancorp, where over an eighteen year period she became
      Senior Vice President &amp; Director of Central Operations and a member of
      the Executive Management Team, and at Foundation Bank, where in her ten
      years with the company she served as CEO and a Director of the
      Foundation Bancorp and Foundation Bank Board. Ms. Dewbrey is currently a
      Director of the YMCA of Greater Seattle where she also serves as
      Treasurer, member of the Executive Committee, and Chair of the
      Investment Committee.
    </p>
    <p>
      <b>Forward-Looking Statements</b>
    </p>
    <p>
      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,, &#8220;anticipate,&#8221; &#8220;project,&#8221; &#8220;plan,&#8221; &#8220;expect,&#8221;
      &#8220;estimate,&#8221; &#8220;intend,&#8221; &#8220;will,&#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 factors, the possibility that MBIA Inc. or
      National will experience increased credit losses or impairments on
      public finance obligations issued by state, local and territorial
      governments and finance authorities that are experiencing unprecedented
      fiscal stress; the possibility that loss reserve estimates are not
      adequate to cover potential claims; MBIA Inc.&#8217;s or National&#8217;s ability to
      fully implement their strategic plan; 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 MBIA Inc.&#8217;s or National&#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 MBIA
      Inc.&#8217;s subsequent filings with the Securities and Exchange Commission.
      MBIA Inc. and National caution readers not to place undue reliance on
      any such forward-looking statements, which speak only to their
      respective dates. National and MBIA Inc. undertake 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 Purchase, New York is a holding company
      whose subsidiaries provide financial guarantee insurance for the public
      and structured finance markets. Please visit MBIA's website at <u>www.mbia.com</u>.
    </p>
    <p>

    </p>
    <p>
      CONTACT:<br><b>MBIA Inc.</b><br>Greg Diamond, 914-765-3190<br>Investor
      and Media Relations<br><u>greg.diamond@mbia.com</u>
    </p>
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