0000890926-14-000053.txt : 20140626 0000890926-14-000053.hdr.sgml : 20140626 20140619171315 ACCESSION NUMBER: 0000890926-14-000053 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20140617 FILED AS OF DATE: 20140619 DATE AS OF CHANGE: 20140619 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: RADIAN GROUP INC CENTRAL INDEX KEY: 0000890926 STANDARD INDUSTRIAL CLASSIFICATION: SURETY INSURANCE [6351] IRS NUMBER: 232691170 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 1601 MARKET STREET STREET 2: 12TH FLOOR CITY: PHILADELPHIA STATE: PA ZIP: 19103 BUSINESS PHONE: 2155646600 MAIL ADDRESS: STREET 1: 1601 MARKET ST STREET 2: 12TH FLOOR CITY: PHILADELPHIA STATE: PA ZIP: 19103 FORMER COMPANY: FORMER CONFORMED NAME: CMAC INVESTMENT CORP DATE OF NAME CHANGE: 19960126 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Jackson Catherine Mary CENTRAL INDEX KEY: 0001434825 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-11356 FILM NUMBER: 14930991 MAIL ADDRESS: STREET 1: RADIAN GROUP INC. STREET 2: 1601 MARKET ST CITY: PHILADELPHIA STATE: PA ZIP: 19103 4 1 edgar.xml PRIMARY DOCUMENT X0306 4 2014-06-17 0000890926 RADIAN GROUP INC RDN 0001434825 Jackson Catherine Mary RADIAN GROUP INC. 1601 MARKET STREET PHILADELPHIA PA 19103 0 1 0 0 SVP, Chief Accounting Officer Stock Option -Performance Award 15.44 2014-06-17 4 A 0 4110 A 2017-06-17 2024-06-17 Common Stock 4110 4110 D Restricted Stock Units -Performance Rights (stock Settled) 2014-06-17 5 A 0 10110 A Common Stock 10110 10110 D Non-Qualified Stock Options: Vesting is 50% on or after the third anniversary of the grant and 50% on or after the fourth anniversary of the grant, provided that Radian's common stock has closed at least 25% above the exercise price of the option for 10 consecutive trading days ending at any point on or after the third anniversary of the grant date. Each Restricted Stock Unit represents a contingent right to receive one share of Radian Group Inc. common stock. Not Applicable. Performance Based Restricted Stock Units ("RSUs"): Vesting occurs on the third anniversary of the grant date, with a potential payout ranging from 0% to 200% of the target award based on Radian's absolute and relative total stockholder return ("TSR") over the three year performance period, subject to a maximum cap (the "Maximum Cap") of 6 times the value of award on the grant date. Radian's relative TSR will be measured against the median TSR of a peer group consisting of the companies listed on the NASDAQ Financial - 100 Index and MGIC Investment Corproration, NMI Holdings Inc. and Essent Group Ltd. Radian's absolute TSR will be applied to determine the maximum number of RSUs that may be awarded, with the grantee being eligible to receive a target payout only if Radian achieves an absolute TSR of at least 25% and a maximum payout of 200% of target only if Radian achieves an absolute TSR of at least 75%. TSR is measured generally as the change in market value of common stock during the performance period, plus dividends, as measured by comparing (x) the 20 day average trading price preceding and including the RSU date of grant, to (y) the 20 day average trading price preceding and including the last day of the performance period. The RSUs have no voting or dividend rights. The number of RSUs reported (10,110) represents the target award. As discussed in Footnote 4 above, at the end of the performance period the grantee may earn between 0% and 200% of the target award, subject to the Maximum Cap, based on the relative and absolute performance of Radian's TSR. Edward J. Hoffman /s/, Edward J. Hoffman (POA) Atty-in-fact 2014-06-19