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MTG > SEC Filings for MTG > Form 8-K on 16-Mar-2009All Recent SEC Filings

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Form 8-K for MGIC INVESTMENT CORP


16-Mar-2009

Other Events


Item 8.01. Other Events.
Under our Profit Sharing and Savings Plan (an employee 401k plan), employees have the ability to invest funds allocated to their individual Plan accounts in various investment alternatives established by the Plan, including a company stock fund whose value is directly related to the price of our common stock. While employees participating in the Plan determine how assets in their individual accounts are invested, a committee comprised of three of our employees has fiduciary responsibility for, among other things, determining whether it remains prudent to continue to offer the company stock fund as an investment alternative in the Plan and, if so, whether any limits should be imposed on participants' investments in the company stock fund.
On March 13, 2009, this committee decided that, beginning March 30, 2009, participants will no longer be able to make additional investments in the company stock fund within their Plan accounts. Although the company common stock fund will be closed to new investments, participants are free to maintain their current existing balances in the company stock fund or move those assets to any of the Plan's other investment alternatives. Plan participants are also not prevented from buying or selling our common stock outside the Plan.
The members of the employee committee are not senior officers of ours nor have we furnished them with material undisclosed information about us in connection with their deliberations as committee members or otherwise.


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