X0306 4 2017-03-06 0 0000814585 MBIA INC MBI 0001334233 Fallon William C C/O MBIA 1 MANHATTANVILLE ROAD, SUITE 301 PURCHASE NY 10577 0 1 0 0 President & COO Common Stock 2017-03-06 4 A 0 43058 0.00 A 982720 D Common Stock 2017-03-06 4 A 0 86926 0.00 A 1069646 D Restricted stock granted pursuant to long-term incentive award under 16b-3 exemption. This restricted stock vests in one-third increments on each of the third, fourth, and fifth anniversaries of the date of grant. Balance reflects adjustment for retirement plan shares. Restricted Stock grated pursuant to long-term incentive award under 16b-3 exemption. The shares issued are the target number of performance-based restricted stock that may be earned (in a range of 0% to 200% of the target number of shares issued) based on the achievement of certain performance metrics as of December 31, 2019. Any shares that are not earned on such date will be forfeited. The shares that are earned on such date will vest in one-third increments on each of the third, fourth and fifth anniversaries of the date of grant, subject to certain continued service conditions. /s/Jonathan C. Harris 2017-03-08