SEC FORM 4 SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
 
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Karpowicz James A

(Last) (First) (Middle)
MGIC PLAZA
250 EAST KILBOURN AVENUE

(Street)
MILWAUKEE WI 53202

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
MGIC INVESTMENT CORP [ MTG ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Senior Vice President
3. Date of Earliest Transaction (Month/Day/Year)
04/21/2006
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 04/21/2006 M 10,000 A $46.0625 60,759 D
Common Stock 04/21/2006 M 6,650 A $45.375 67,409 D
Common Stock 04/21/2006 F 1,156 D $70.67 66,253 D
Common Stock 04/21/2006 F 791 D $70.67 65,462 D
Common Stock 04/21/2006 S 14,703 D $70.0234 50,759 D
Common Stock 04/24/2006 S 250 D $69.7 50,509 D
Common Stock 824.482(1) I By Issuer's Profit Sharing and Savings Plan
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Options (Right to Buy) $46.0625 04/21/2006 M 10,000 (2) 05/05/2009 Common Stock 10,000 $0 0 D
Employee Stock Options (Right to Buy) $45.375 04/21/2006 M 6,650 (3) 01/26/2010 Common Stock 6,650 $0 5,850 D
Employee Stock Options (Right to Buy) $57.88 (4) 01/24/2011 Common Stock 6,250 6,250 D
Employee Stock Options (Right to Buy) $63.8 (5) 01/23/2012 Common Stock 10,000 10,000 D
Employee Stock Options (Right to Buy) $43.7 (6) 01/22/2013 Common Stock 7,000 7,000 D
Employee Stock Options (Right to Buy) $68.2 (7) 01/28/2014 Common Stock 7,000 7,000 D
Explanation of Responses:
1. Balance as of December 31, 2005.
2. All of these options are vested and exercisable in full.
3. Partial vesting of these options occurred on January 26 of each of the five years beginning in 2001, based on certain performance standards. Any portion of the option which did not vest at January 26, 2005 will become vested on January 26, 2009 based on the reporting person's continued service to the Issuer.
4. One-fifth of these options vest on January 24 of each of the five years beginning in 2002.
5. One-fifth of these options vest on January 23 of each of the five years beginning in 2003.
6. One-fifth of these options vest on January 22 of each of the five years beginning in 2004.
7. One-fifth of these options vest on January 28 of each of the five years beginning in 2005.
Remarks:
This form is signed by the reporting person's attorney-in-fact pursuant to a previously filed power of attorney.
Dan D. Stilwell, Attorney-in-Fact 04/24/2006
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.