4//SEC Filing
Altman Richard 4
Accession 0000890926-13-000048
CIK 0000890926other
Filed
May 15, 8:00 PM ET
Accepted
May 16, 7:17 PM ET
Size
9.9 KB
Accession
0000890926-13-000048
Insider Transaction Report
Form 4
Altman Richard
Exec Vice President, CAO
Transactions
- Award
Restricted Stock Units -Performance Award (stock settled)
2013-05-14+15,170→ 15,170 total→ Common Stock (15,170 underlying) - Award
Stock Option - Performance Award
2013-05-14+9,650→ 9,650 totalExercise: $13.99From: 2016-05-14Exp: 2023-05-14→ Common Stock (9,650 underlying)
Footnotes (5)
- [F1]Non-Qualified Stock Option: Vesting is 50% on or after the third anniversary of the grant and 50% on or after the fourth anniversary of the grant, provided that Radian's common stock has closed at 25% above the exercise price of the option for 10 consecutive trading days ending at any point on or after the third anniversary of the grant date.
- [F2]Each Restricted Stock Unit represents a contingent right to receive one share of Radian Group Inc. common stock.
- [F3]Not applicable.
- [F4]Performance Based Restricted Stock Units ("RSUs"): Vesting occurs on the third anniversary of the grant date, with a potential payout ranging from 0% to 200% of the target award based on Radian's absolute and relative total stockholder return ("TSR") over the three year performance period, subject to a maximum cap (the "Maximum Cap") of 6 times the value of award on the grant date. Radian's relative TSR will be measured against the median TSR of a peer group consisting mainly of the companies listed on the NASDAQ Financial Index. Radian's absolute TSR will be applied to determine the maximum number of RSUs that may be awarded, with the grantee being eligible to receive a target payout only if Radian achieves an absolute TSR of at least 25% and a maximum payout of 200% of target only if Radian achieves an absolute TSR of at least 75%. TSR is measured generally as the change in market value of common stock during the performance period, plus dividends, as measured by comparing (x) the 20 day average trading price preceding and including the RSU date of grant, to (y) the 20 day average trading price preceding and including the last day of the performance period. The RSUs have no voting or dividend rights.
- [F5]The number of RSUs reported (15,170) represents the target award. As discussed in Footnote 4 above, at the end of the performance period the grantee may earn between 0% and 200% of the target award, subject to the Maximum Cap, based on the relative and absolute performance of Radian's TSR.
Documents
Issuer
RADIAN GROUP INC
CIK 0000890926
Entity typeother
Related Parties
1- filerCIK 0001442632
Filing Metadata
- Form type
- 4
- Filed
- May 15, 8:00 PM ET
- Accepted
- May 16, 7:17 PM ET
- Size
- 9.9 KB