Ray Eric 4

What Happened
Eric Ray, Senior EVP and Chief Digital Officer of Radian Group Inc. (RDN), had multiple RSU awards convert to shares on May 15, 2026. A total of 65,358 shares were issued upon vesting/conversion of performance- and time-based RSUs (reported as derivative conversions). To satisfy tax withholding obligations, 25,297 shares were withheld/disposed at an attributed price of $36.93 per share, equal to approximately $934,218. The transactions reflect vesting and net settlement to cover taxes rather than an open-market sale.

Key Details

• Transaction date: May 15, 2026; Form 4 filed May 19, 2026 (filed within required period).
• Main actions: conversion/exercise of RSU derivatives (code M) and shares withheld for tax payment (code F).
• Shares received on vesting (acquired): 65,358 shares (from multiple awards/grants).
• Shares withheld/disposed for taxes: 25,297 shares at $36.93 each, value ≈ $934,218.
• Shares owned after transaction: not specified in the filing.
• Notable footnotes: awards include performance-based RSUs (some vesting based on metrics as of May 15, 2026) and time-based RSUs; portions of certain awards remain subject to a one-year post-vest holding period per the company’s equity plan (see footnotes F1, F6, F7, F10, F9).
• Transaction codes explained briefly: M = exercise/conversion of derivative (here, RSUs converting to shares); F = shares withheld/used to satisfy tax liabilities (net settlement).

Context
This was not an open-market sale by the insider; the company withheld shares to cover tax obligations upon vesting (a common administrative/settlement action). Some of the distributed shares remain subject to a one‑year post-vest holding period per the equity plan, and the filing indicates vesting was tied to performance metrics for certain awards. These entries are routine compensation-related transactions rather than directional buys or discretionary sales.