Quigley Robert 4

What Happened
Robert Quigley, Senior Executive Vice President and Chief Accounting Officer of Radian Group (RDN), received equity awards on May 21, 2026 consisting of 10,750 time‑based restricted stock units (RSUs) and 16,390 performance‑based RSUs (target). No purchase price is reported because these are compensation awards (derivative RSUs), not open‑market trades. The performance RSUs are a target amount and may pay out between 0% and 200% of target (i.e., 0 to 32,780 shares); the combined target grant is 27,140 RSUs and the maximum possible payout would be 43,530 RSUs if performance awards vest at 200%.

Key Details

• Transaction date: May 21, 2026. Price: N/A (awarded RSUs). Form filed May 26, 2026.
• Awards: 10,750 time‑based RSUs; 16,390 performance‑based RSUs (target). Total target = 27,140 RSUs.
• Potential payout: Performance RSUs may range 0–32,780 shares (0–200% of target); total possible shares including time RSUs up to 43,530.
• Vesting: Time‑based RSUs vest pro rata on each of the first, second and third anniversaries of May 25, 2026. Performance RSUs vest May 25, 2029 based on multi‑year metrics; post‑vest distribution generally subject to a one‑year holding period.
• Shares owned after transaction: Not specified in the filing.
• Filing timeliness: Form 4 was filed May 26, 2026 for a May 21 transaction (filed one business day late relative to the typical two‑business‑day Form 4 deadline).

Context
RSUs are a common form of executive compensation that convert into company shares if and when vesting conditions are met; they are not an immediate buy or sell signal. Performance RSUs here are tied to Radian’s long‑term book‑value growth metric and relative total shareholder return vs. the S&P SmallCap 600 Financials index over a three‑year performance period. Because awards vest in the future (and performance may pay out less than target), these grants reflect compensation structure rather than an immediate change in insider ownership or sentiment.