Ahmad Fawad 4

What Happened
Ahmad Fawad, a director of Radian Group Inc. (RDN), had 4,837 time‑based RSUs convert into common shares on May 15, 2026 (reported May 19, 2026). The RSUs converted at $0.00 exercise price (i.e., no cash paid). The company withheld 5 shares to satisfy state tax withholding obligations (5 x $36.93 ≈ $185), leaving a net delivery of 4,832 shares to Fawad.

Key Details

• Transaction date: 2026-05-15; Form 4 filed: 2026-05-19 (timely filed).
• Primary action: Conversion/exercise of 4,837 RSUs into 4,837 shares (derivative code M). Exercise price reported $0.00.
• Tax withholding: 5 shares withheld (code F) at $36.93/share (~$185 total) per company withholding policy.
• Net shares delivered to insider: 4,832 (4,837 converted − 5 withheld).
• Footnotes: F1 = vesting of time‑based RSUs granted 5/21/2025; F2 = shares withheld for state tax; F3 = each RSU = one share.
• Shares owned after transaction: not stated in the provided filing details.

Context
This was a routine RSU vesting event (award converting to shares), not an open‑market purchase or sale. The small share withholding to cover taxes is a common administrative step and does not indicate a market sentiment change by the insider.