X0202 4 2006-12-01 0000876437 MGIC INVESTMENT CORP MTG 0001156092 LEHMAN MICHAEL E C/O MGIC INVESTMENT CORPORATION 250 EAST KILBOURN AVENUE MILWAUKEE WI 53202 1 0 0 0 Common Stock 6099 D Share Units 2006-12-01 4 A 0 5.7878 A Common Stock 5.7878 1347.6323 D The reporting person participates in the MGIC Investment Corporation Deferred Compensation Plan for Non-Employee Directors under which units corresponding to shares of Common Stock of the Issuer ("Share Units") are acquired through compensation deferral. Dividends which would have been received on shares represented by Share Units are also invested in Share Units. The Share Units are settled in cash, generally at the time the reporting person ceases to be a Director of the Issuer. These Share Units do not have a specified dollar-denominated exercise or conversion price. (Their value is based, on a one-for-one basis, on the price of the Issuer's common stock on the New York Stock Exchange.) These Share Units do not become exercisable or expire on a fixed date. (Generally, the Share Units become payable at the time the reporting person ceases to be a Director of the Issuer.) These Share Units were acquired through phantom dividend reinvestment and no price was paid by the reporting person for the Share Units. This Form 4 is being signed by the reporting person's attorney-in-fact pursuant to a previously filed power of attorney. Dan D. Stilwell, Attorney-in-fact 2006-12-01