-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, O7OzqDKiy13h1v8FAIvzn1aLtRWFoh8KDpRiEZa/uslvIGNqqGcs08W4lbWDMxL4 q925fyd1nHwPPdckhr8x8A== 0000814585-04-000059.txt : 20040621 0000814585-04-000059.hdr.sgml : 20040621 20040621165611 ACCESSION NUMBER: 0000814585-04-000059 CONFORMED SUBMISSION TYPE: 3 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040609 FILED AS OF DATE: 20040621 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: CORSO CLIFFORD D CENTRAL INDEX KEY: 0001259964 FILING VALUES: FORM TYPE: 3 SEC ACT: 1934 Act SEC FILE NUMBER: 001-09583 FILM NUMBER: 04872971 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: MBIA INC CENTRAL INDEX KEY: 0000814585 STANDARD INDUSTRIAL CLASSIFICATION: SURETY INSURANCE [6351] IRS NUMBER: 061185706 STATE OF INCORPORATION: CT FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 113 KING ST CITY: ARMONK STATE: NY ZIP: 10504 BUSINESS PHONE: 914-273-4545 MAIL ADDRESS: STREET 1: 113 KING ST CITY: ARMONK STATE: NY ZIP: 10504 3 1 primary_doc.xml PRIMARY DOCUMENT X0202 3 2004-06-09 0 0000814585 MBIA INC MBI 0001259964 CORSO CLIFFORD D C/O MBIA 113 KING STREET ARMONK NY 10504 0 0 0 1 Member, Exec. Policy Committee Common Stock 19942 D Employee Stock Option (Right to Buy) 42.79 2000-12-11 2007-12-11 Common Stock 2670 D Employee Stock Option (Right to Buy) 42.5 2001-12-09 2008-12-09 Common Stock 3015 D Employee Stock Option (Right to Buy) 32.54 2002-12-09 2009-12-09 Common Stock 2712 D Employee Stock Option (Right to Buy) 48.58 2003-12-12 2010-12-12 Common Stock 6345 D Employee Stock Option (Right to Buy) 52.81 2005-12-07 2012-12-07 Common Stock 7000 D Employee Stock Option (Right to Buy) 36.69 2006-02-12 2013-02-12 Common Stock 7000 D Employee Stock Option (Right to Buy) 55.6 2009-06-09 2014-06-09 Common Stock 60000 D Employee Stock Option (Right to Buy) 64.84 2007-02-10 2014-02-10 Common Stock 7000 D Shares acquired prior to status as Reporting Person including a) 4,000 shares of restricted stock granted at $64.84 per share and vesting entirely in February 2008, 2,250 shares of restricted stock granted at $32.54 per share and vesting entirely in December 2004, 3,346 shares of restricted stock granted at $48.58 per share and vesting entirely in December 2004, 3,000 shares of restricted stock granted at $52.81 per share and vesting entirely in February 2005, 5,000 shares of restricted stock granted at $36.69 per share and vesting entirely in February 2006, and b) 2,346 shares held in Employee 401(k) Plan. Options granted prior to status as a Reporting Person. Grant of options exempt under 16b-3 with 5 year gradual vesting: 0% on first anniversary; 40% on second anniversary; 20% each on third, fourth and fifth anniversary of the grant. Grant of options having cliff vesting - 100% vested on 5th anniversary of grant. LEONARD I. CHUBINSKY AS ATTORNEY IN FACT 2004-06-21 EX-24 2 poa_corso.htm POWER OF ATTORNEY poa_corso

Exhibit 24

POWER OF ATTORNEY
 
     Know all by these presents, that the undersigned hereby constitutes and appoints each of Leonard I. Chubinsky
and Ram D. Wertheim, signing singly, the undersigned's true and lawful attorney-in-fact to:

          (1) execute for and on behalf of the undersigned, in the undersigned's capacity as an officer and/or director of
MBIA Inc. (the "Company"), Forms 3, 4, and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934
and the rules thereunder;

          (2) do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable
to complete and execute any such Form 3, 4, or 5, complete and execute any amendment or amendments thereto, and
timely file such form with the United States Securities and Exchange Commission and any stock exchange or similar
authority; and

          (3) take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such
attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood
that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney
shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such
attorney-in-fact's discretion.

     The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every
act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein
granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of
substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact's substitute
or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein
granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of
the undersigned, are not assuming, nor is the Company assuming, any of the undersigned's responsibilities to comply
with Section 16 of the Securities Exchange Act of 1934.

     This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3,
4, and 5 with respect to the undersigned's holdings of and transactions in securities issued by the Company, unless
earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact.

IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 15th day of
June, 2004.


  /s/ CLIFFORD D. CORSO                          
Signature                         

Clifford D. Corso                                    
Print Name                       

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