SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 3, 2007
MBIA INC.
(Exact name of registrant as specified in its charter)
Connecticut 1-9583 06-1185706
(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation) Identification No.)
113 King Street,
Armonk, New York 10504
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
914-273-4545
Not Applicable
(Former name or former address, if changed since last report)
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:
|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
(d) Election of Director.
On August 3, 2007, the Board of Directors of MBIA Inc. ("MBIA")
elected Richard C. Vaughan as a member of MBIA's Board of Directors. Mr. Vaughan
served as Executive Vice President and Chief Financial Officer of Lincoln
Financial Group from 1995 until his retirement in May 2005. Effective as of the
date of his election to MBIA's Board of Directors, Mr. Vaughan was appointed to
serve as a member of the Audit Committee and the Compensation and Organization
Committee. In addition, MBIA's Board of Directors has determined in accordance
with the independence standards set forth in the MBIA Inc. Board Corporate
Governance Practices that Mr. Vaughan is an Independent Director and does not
have any material relationships with MBIA. In addition, Mr. Vaughan meets the
definition of "Independent Director" set forth in the New York Stock Exchange
Corporate Governance Listing Standards. The MBIA Inc. Board Corporate Governance
Practices are attached as Exhibit A to MBIA's 2007 Proxy Statement and can be
found on MBIA's website, www.mbia.com.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits.
99.1 Press Release issued by MBIA Inc. dated August 6, 2007.
SIGNATURES
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.
MBIA INC.
By: /s/ Ram D. Wertheim
-------------------
Ram D. Wertheim
General Counsel
Date: August 6, 2007
EXHIBIT INDEX TO CURRENT REPORT ON FORM 8-K
Dated August 3, 2007
Exhibit 99.1 Press Release issued by MBIA Inc. dated August 6, 2007.