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...

Current Market Cap

$6.55B

Number of Employees

627

Total Compensation

2014 - 2019

Trending down by -28.80% last year
Showing total compensation for the last 2014 - 2019

Stock

Down by -56.29% last year

Salary

Up by 3.07% last year

Bonus

Up by 1.10% last year

Other

Down by -83.77% last year

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.

SEC Filing

From March 20, 2020