Patrick Sinks served as the CEO of MGIC Investment Corp. from March 2014 until July 2019. He has been with the company since 1978, which shows his deep experience in the industry. Patrick holds an MBA from the University of...

Patrick Sinks served as the CEO of MGIC Investment Corp. from March 2014 until July 2019. He has been with the company since 1978, which shows his deep experience in the industry. Patrick holds an MBA from the University of Wisconsin - Milwaukee and started in various finance roles at MGIC before becoming a leader. During his tenure as CEO, his compensation was notably performance-based, highlighting a focus on metrics like Return on Equity. In 2019, he earned a total of around $7.54 million, with bonuses tied to achieving specific financial goals. Patrick also engaged in significant insider trading, with his holdings fluctuating from over $27 million to levels above $36 million in just a few years. This indicates a strong belief in the company's growth potential and his stake in its success. After stepping down, he continued with MGIC as Vice Chairman until early 2020, making him a key player in the company’s strategic direction.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other MGIC Investment Corp. CEOs

M

Patrick Sinks

Ex-CEO of MGIC Investment Corp.

Education

MBA from the University of Wisconsin - Milwaukee

Field of Expertise

Business & Management

Sector of Economy

Financial Services

Born

January 1, 1962 - 63 years ago

CEO of MGIC Investment Corp. for

5 years 4 months (Mar 2014 - Jul 2019)

Previous Experience

President and Chief Operating Officer since 2006

Rivals

Competitors/colleagues of Patrick Sinks

F

Vincent J. Delie, Jr.

CEO of F.N.B. Corporation

2023 Compensation

Stock

$11.00M

Salary

$1.19M

Bonus

$0.00

Other

$649.18K

Total Holdings

$24.80M

C

Gary C. Bhojwani

CEO of CNO Financial Group

2022 Compensation

Stock

$9.11M

Salary

$1.03M

Bonus

$1.70M

Other

$352.32K

Total Holdings

$45.23M

E

David B. Weinstock

CEO of Essent Group

2023 Compensation

Stock

$0.00

Salary

$375.00K

Bonus

$562.50K

Other

$64.08K

Total Holdings

$4.81M

M

Michel A. Khalaf

CEO of MetLife

2023 Compensation

Stock

$15.81M

Salary

$1.48M

Bonus

$4.80M

Other

$279.92K

Total Holdings

$50.00M

E

Mark A. Casale

CEO of Essent Group

2023 Compensation

Stock

$0.00

Salary

$1.00M

Bonus

$212.50K

Other

$705.22K

Total Holdings

$1.46M

Holdings

See how much did Patrick Sinks make over time.

Patrick Sinks had a significant stake in MGIC during his tenure, with trading values reaching as high as $27.71 million in late 2019. His holdings demonstrated a trend of fluctuation, peaking around $36.07 million in September 2024. This shows how...

Patrick Sinks had a significant stake in MGIC during his tenure, with trading values reaching as high as $27.71 million in late 2019. His holdings demonstrated a trend of fluctuation, peaking around $36.07 million in September 2024. This shows how engaged he was with the company’s performance and his confidence in its future. In late 2019, his holdings were close to $28.14 million, indicating he had substantial financial skin in the game. The ups and downs in his net worth suggest that Patrick was not just a leader, but an investor as well, indicating his belief in the potential of MGIC.

Mar 18, 2025

M

shares

MTG @ $23.20

Total Stock Sold

$9.45M

MTG

$9.45M

675,158 MTG shares

What if they kept their stock?

If Patrick Sinks didn't sell their stock, today they would have:
Extra MTG675,158 shares worth $4.48M.
This is -52.64% and $4.97M less than what they got when they sold the stock.

Charitable Transactions

MTG

20,000 shares

MTG

Recent Charitable Transactions

MTG

20,000 shares

MTG

Dec 9, 2019

Charity

Insider Trading

See recent insider trades of Patrick Sinks.

MTG

20,000 shares

MTG

Dec 9, 2019

Charity

MTG

$284.57K

MTG at $14.37/share

Nov 27, 2019

Sale

MTG

$359.86K

MTG at $14.20/share

Nov 19, 2019

Sale

MTG

$1.05M

MTG at $14.20/share

Nov 14, 2019

Sale

MTG

$1.57M

MTG at $14.13/share

Nov 12, 2019

Sale

MTG

$1.87M

MTG at $14.04/share

Nov 8, 2019

Sale

MTG

$2.09M

MTG at $13.84/share

Oct 30, 2019

Sale

MTG

$2.24M

MTG at $13.99/share

Oct 28, 2019

Sale

MTG

350,000 shares

MTG

Jan 21, 2019

Received

MTG

308,000 shares

MTG

Jan 22, 2018

Received

Compensation History

See how much did Patrick Sinks make over time.

In 2019, Patrick Sinks received a total compensation package of about $7.54 million while serving as CEO of MGIC Investment Corp. This included a base salary of $895,304 and a performance bonus of around $2.33 million, which was driven by key performance metrics like Return on Equity and New Insurance Written. His compensation was heavily linked to the company's financial success, reflecting the importance of aligning the interests of executives with those of shareholders. Moreover, he received vested stock valued at approximately $1.53 million, showing a commitment to the company’s long-term goals through equity compensation. This structure encouraged him to drive strong performance within MGIC.

Year

2019

Total Compensation

$4.76M

Salary

$895.30K

Board Justification

The compensation philosophy focuses on aligning executive compensation with company performance, shareholder interests, and competitive market practices, with a significant portion of total direct compensation being performance-based.

Bonus

$2.34M

Board Justification

The bonus was based on performance metrics including Return on Equity and New Insurance Written, with a total weight of 75% for financial metrics and 25% for business objectives, resulting in an 86.3% payout of the maximum bonus opportunity.

Other

$2.45K

Board Justification

Other compensation includes matching contributions to the 401(k) plan and other benefits.

Restricted Stock

$1.53M(116.57K RSU)

Board Justification

The vested stock consists of performance-based RSUs that were granted in January 2019, which cliff vest based on achievement of a three-year cumulative adjusted book value per share growth goal.

Performance Metrics

The performance metrics for determining the compensation included Return on Equity and New Insurance Written, which are critical to the company's financial success.

Other MGIC Investment Corp. CEOs

Here are other CEOs of MGIC Investment Corp.

J. Michael Lauer

Ex-CEO of MGIC Investment Corp.

January 1989 - March 2014

Timothy J. Mattke

CEO of MGIC Investment Corp.

July 2019 - Present