SEC Form 4 · accession 0000890926-17-000036
RADIAN GROUP INC · RDN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Derek Brummer
Officer — EVP and Chief Risk Officer
Period of report
May 10, 2017
Accepted (ET)
May 12, 2017 · 6:14 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000890926
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock Unit - Time Vested AwardF1,F5 | $0.00 | May 10, 2017 | A | 11,540 | A | May 10, 2018 | — | Common Stock | 11,540 | 11,540 | D |
| Restricted Stock Units -Performance Award (TSR Metric)F2,F3,F5 | $0.00 | May 10, 2017 | A | 11,940 | A | May 10, 2020 | — | Common Stock | 11,940 | 11,940 | D |
| Restricted Stock Units -Performance Award (BV Metric)F4,F2,F5 | $0.00 | May 10, 2017 | A | 12,920 | A | May 10, 2020 | — | Common Stock | 12,920 | 12,920 | D |
Explanation of responses
- F1Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of Radian Group Inc. common stock. Vesting of time-based RSUs occurs pro rata on each of the first, second and third anniversaries of the grant.
- F2Each Performance Based RSU represents a contingent right to receive one share of Radian Group Inc. common stock. The number of reported Performance Based RSUs represents the target award, with grantees having the potential to earn a number of shares up to 200% of the target award. The Performance Based RSUs have no voting or dividend rights.
- F3Vesting of the Performance Based RSUs (TSR Metric) occurs on the third anniversary of the grant date, with payouts generally subject to a one year holding period after vesting. The award (representing between 0 and 23,880 shares) will vest based on the relative performance of Radian's total stockholder return against a designated peer group.
- F4Vesting of the Performance Based RSUs (BV Metric) occurs on the third anniversary of the grant date, with payouts generally subject to a one year holding period after vesting. The award (representing between 0 and 25,840 shares) will vest based on Radian's cumulative growth in "LTI Book Value" per share (as defined in the grant document).
- F5Not Applicable.