Weinbach Michael S 4

What Happened
Michael S. Weinbach, CEO of Radian Group Inc. (RDN), received awards totaling 412,110 restricted stock units (RSUs) on June 1, 2026. The grant breaks down as 150,000 time‑based RSUs and target awards of 185,020 and 77,090 performance‑based RSUs. No cash was exchanged (derivative awards); price per share is N/A. The performance targets could result in up to 200% payout for the performance RSUs, meaning those two awards could vest as many as 370,040 and 154,180 shares respectively. If performance pays at 200%, the combined total could reach 674,220 shares.

Key Details

• Transaction date: June 1, 2026; Form 4 filed June 3, 2026 (filed within the usual two‑business‑day window).
• Award types: A = Award/Grant; all reported as RSUs (contingent rights to receive common stock).
• Breakdown: 150,000 time‑based RSUs (vest pro rata on each of the 1st, 2nd and 3rd anniversaries of May 25, 2026).
• Performance awards: 185,020 (target; 0–370,040 shares possible) and 77,090 (target; 0–154,180 shares possible); vesting date May 25, 2029 based on cumulative LTI Book Value per Share growth and TSR vs. S&P SmallCap 600 Financials (performance period = three years). Distribution of performance RSUs is generally subject to a one‑year post‑vest holding period.
• Shares owned after transaction: not specified in the filing.
• Price: N/A (derivative/RSU grant).
• Timeliness: Filing appears timely (no late‑filing indicator).

Context
RSU grants are compensatory awards, not open‑market purchases or sales. Time‑based RSUs provide retention over multiple years; performance RSUs pay out only if specified company performance metrics are met and can pay from 0% up to 200% of the target. These awards do not by themselves indicate immediate insider buying or selling activity.