HESS DEBRA ANN 4

What Happened

• Debra Ann Hess, a director of Radian Group, had 4,837 time‑based RSUs vest on May 15, 2026. The RSUs converted into common stock (code M: exercise/conversion of a derivative) with no exercise price ($0.00), resulting in the issuance of 4,837 shares.
• The company withheld 4 shares to satisfy state tax withholding obligations (code F) at a withholding value of $36.93 per share, totaling $148. Net shares delivered to Hess were 4,833 (4,837 vested minus 4 withheld).

Key Details

• Transaction date: May 15, 2026; Form 4 filed May 19, 2026 (filed four days after the transaction; Form 4s are typically due within two business days).
• Primary codes: M = conversion/exercise of derivative (RSU vesting), F = shares withheld to cover tax liability.
• Prices/values: RSUs converted at $0.00 (no exercise cost); 4 shares withheld at $36.93 each = $148 withheld.
• Shares owned after transaction: Not reported in this filing.
• Footnotes: Vesting of time‑based RSUs granted May 21, 2025 (each RSU equals one share); withheld shares satisfy state tax withholding per the equity plan.

Context

• This was a vesting/conversion of RSUs (an award becoming stock), not a market purchase or sale. The withholding of a small number of shares to cover taxes is a routine administrative action (cashless withholding) and does not indicate a sale of the remaining shares.
• Such vesting events are common compensation occurrences for executives and directors; they are informative about compensation realization but are not necessarily a directional signal about the insider’s view of the stock.