Richard G. Thornberry - 09 Aug 2023 Form 4 Insider Report for RADIAN GROUP INC (RDN)

Role
Chief Executive Officer
Signature
Edward J. Hoffman /s/, Edward J. Hoffman, (POA) Atty-in-fact
Issuer symbol
RDN
Transactions as of
09 Aug 2023
Net transactions value
$0
Form type
4
Filing time
11 Aug 2023, 16:26:05 UTC
Previous filing
19 May 2023
Next filing
15 May 2024
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction RDN Restricted Stock Units - Performance Award Award +350,000 350,000 09 Aug 2023 Common Stock 350,000 $0.000000 Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each RSU represents a contingent right to receive one share of common stock.
F2 Represents a one-time outperformance award of performance-based RSUs granted to Mr. Thornberry in connection with the extension of his employment agreement with the Company. The number of reported performance-based RSUs represents the target award, with Mr. Thornberry having the potential to earn a number of shares up to 150% of the target award.
F3 Not Applicable.
F4 Subject to certain conditions set forth in the grant agreement, vesting of the performance-based RSUs occurs on December 31, 2026 (between 0 and 525,00 shares) based on the Company's "Cumulative Growth in Book Value Per Share" (as defined in the grant agreement) and the "Company Absolute TSR" as compared to the "Average Peer Group TSR" (each as defined in the grant agreement), over a performance period beginning on July 1, 2023 and ending on December 31, 2026.