In 2019, Patrick Sinks earned $4.76M in total compensation at MGIC Investment Corp., including $895.30K salary, $2.34M bonus and $1.53M in stock. Most recently sold 19,803 shares in Nov 2019. Currently holds stock worth $40.08M. Has donated $558.40K in stock to charitable causes. Led MGIC Investment Corp. as CEO for 5 years.
Compensation History
Annual executive compensation data for Patrick Sinks, including salary, bonuses, and stock awards.
Year
2019
Total Compensation
$4.76M
Salary
$895.30K
Bonus
$2.34M
Other
$2.45K
Salary
$895.30KBoard 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
$2.34MBoard 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 Compensation
$2.45KBoard Justification
Other compensation includes matching contributions to the 401(k) plan and other benefits.
Restricted Stock
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.
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
Holdings
Track Patrick Sinks's stock holdings and portfolio value over time.
Total Stock Sold
$9.45M
$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 $18.85M.
This is 99.46% and $9.40M more than what they got when they sold the stock.
Charitable Transactions
20,000 shares
MTG
Recent Charitable Transactions
20,000 shares
MTG
Dec 9, 2019
Charity
Insider Trading
Patrick Sinks's recent stock transactions, purchases, and sales filed with the SEC.
20,000 shares
MTG
Dec 9, 2019
Charity
$284.57K
MTG at $14.37/share
Nov 27, 2019
Sale
$359.86K
MTG at $14.20/share
Nov 19, 2019
Sale
$1.05M
MTG at $14.20/share
Nov 14, 2019
Sale
$1.57M
MTG at $14.13/share
Nov 12, 2019
Sale
$1.87M
MTG at $14.04/share
Nov 8, 2019
Sale
$2.09M
MTG at $13.84/share
Oct 30, 2019
Sale
$2.24M
MTG at $13.99/share
Oct 28, 2019
Sale
350,000 shares
MTG
Jan 21, 2019
Received
308,000 shares
MTG
Jan 22, 2018
Received
Rivals
Compare Patrick Sinks with competitor CEOs and industry peers.
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
$24.28M
Gary C. Bhojwani
CEO of CNO Financial Group
2022 Compensation
Stock
$9.11M
Salary
$1.03M
Bonus
$1.70M
Other
$352.32K
Total Holdings
$26.38M
Michel A. Khalaf
CEO of MetLife
2023 Compensation
Stock
$15.81M
Salary
$1.48M
Bonus
$4.80M
Other
$279.92K
Total Holdings
$104.98M