Capital Stock (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Rollforward of Common Stock

The following table shows the changes in common stock outstanding for the year-to-date periods ended June 30, 2023, and December 31, 2022.

Common stock outstanding
(In thousands)	June 30, 2023	December 31, 2022
Balance at beginning of period	157,056	175,421
Shares repurchased under share repurchase programs	(945)	(19,506)
Issuance of common stock under incentive and benefit plans, net of shares withheld for employee taxes	1,239	1,141
Balance at end of period	157,350	157,056

Rollforward of RSUs

Information with regard to RSUs to be settled in stock for the periods indicated is as follows.

Rollforward of RSUs
	Performance-Based			Time-Vested
	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value
Outstanding, December 31, 2022 (1)	2,362,401	$	17.59	1,891,800	$	16.16
Granted (2)	561,550	$	25.26	495,875	$	25.03
Performance adjustment (3)	814,529	$	—	—	$	—
Vested (4)	(1,083,080)	$	15.90	(546,914)	$	18.35
Forfeited	(25,059)	$	19.60	(4,434)	$	21.13
Outstanding, June 30, 2023 (1)	2,630,341	$	18.14	1,836,327	$	17.90

(1)Outstanding RSUs represent shares that have not yet been issued because not all conditions necessary to earn the right to benefit from the instruments have been satisfied. For performance-based awards, the final number of RSUs distributed depends on the cumulative growth in Radian’s book value per share, adjusted for certain defined items, over the respective three-year performance period and, with the exception of certain retirement-eligible employees, continued service through the vesting date, which could result in changes to the number of vested RSUs.

(2)For performance-based RSUs, amount represents the number of target shares at grant date.

(3)For performance-based RSUs, amount represents the difference between the number of shares vested at settlement, which can range from 0 to 200% of target depending on results over the applicable performance periods, and the number of target shares at the grant date.

(4)Represents amounts vested during the year, including the impact of performance adjustments for performance-based awards.