SEC Form 4 · accession 0000890926-18-000038
RADIAN GROUP INC · RDN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Eric Ray
Officer — Sr. Executive Vice President
Period of report
May 9, 2018
Accepted (ET)
May 11, 2018 · 4:16 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,F2,F5 | $0.00 | May 9, 2018 | A | 11,510 | A | May 9, 2019 | — | Common Stock | 11,510 | 11,510 | D |
| Restricted Stock Units -Performance AwardF3,F4,F5,F1 | $0.00 | May 9, 2018 | A | 25,830 | A | May 9, 2021 | — | Common Stock | 25,830 | 25,830 | D |
Explanation of responses
- F1Each RSU represents a contingent right to receive one share of common stock.
- F2Vesting of time-based RSUs occurs pro rata on each of the first, second and third anniversaries of the date of grant. The time-vested RSUs have no voting or dividend rights.
- F3Each performance-based RSU represents a contingent right to receive one share of 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.
- F4Vesting of the performance-based RSUs occurs on the third anniversary of the grant date (between 0 and 51,660 shares), subject to the Company's cumulative growth in "LTI Book Value" per share (as defined in the grant document). Payouts are generally subject to a one-year holding period after vesting.
- F5N/A