Ray Eric 4

What Happened
Eric Ray, Senior Executive Vice President and Chief Digital Officer of Radian Group Inc. (RDN), received an award of 24,430 restricted stock units (RSUs) reported on May 21, 2026. The award consists of 9,680 time‑based RSUs and a target grant of 14,750 performance‑based RSUs (performance awards may pay out up to 200% of target, i.e., up to 29,500 shares). These are derivative awards (no per‑share purchase price reported — N/A); each RSU represents a contingent right to receive one share of common stock.

Key Details

• Transaction date: May 21, 2026; Form 4 filed May 26, 2026 (appears later than the typical two-business‑day Form 4 deadline).
• Grant breakdown: 9,680 time‑based RSUs; 14,750 performance‑based RSUs (target). Total reported = 24,430 RSUs.
• Vesting: Time‑based RSUs vest pro rata on each of the first, second and third anniversaries of May 25, 2026. Performance RSUs vest on May 25, 2029 based on multi‑year performance metrics (LTI Book Value per Share growth and relative TSR vs. S&P SmallCap 600 Financials). Performance payout range: 0 to 29,500 shares.
• Post‑vest restrictions: Distribution of performance shares generally subject to a one‑year post‑vest holding period.
• Price/Value: Reported as derivative awards (no cash price per share listed).
• Shares owned after transaction: Not disclosed in the provided filing extract.
• Footnotes of note: F1–F5 describe RSU mechanics, vesting schedule, performance metrics, and holding period.

Context
This filing documents a compensation award (RSUs), not an open‑market purchase or sale. RSU grants are routine executive compensation and do not by themselves indicate an insider buying or selling stock. The performance RSUs are contingent on meeting specified multi‑year goals and may pay out between 0% and 200% of target. The filing date is several days after the reported grant date, which appears later than the usual Form 4 reporting window.