Capital Stock (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule of Rollforward of Common Stock

The following table shows the year-to-date changes in common stock outstanding for each of the periods indicated.

Common stock outstanding
(In thousands)	June 30, 2024	December 31, 2023
Balance at beginning of period	153,179	157,056
Shares repurchased under share repurchase programs	(3,344)	(5,264)
Issuance of common stock under incentive and benefit plans, net of shares withheld for employee taxes	1,313	1,387
Balance at end of period	151,148	153,179

Schedule of Dividends Declared and Paid

The following table presents the amount of dividends declared and paid, on a per share basis, for each quarter and annual period as indicated.

Dividends declared and paid
	2024		2023
Quarter ended
March 31	$	0.245	$	0.225
June 30	0.245		0.225
September 30	N/A		0.225
December 31	N/A		0.225
Total annual dividends per share declared and paid	$	0.490	$	0.900

N/A – Not applicable

Schedule of Roll forward 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, 2023 (1)	2,970,874	$	18.28	1,786,615	$	18.16
Granted (2)	484,480	$	29.32	386,882	$	31.25
Performance adjustment (3)	557,957	$	—	—	$	—
Vested (4)	(1,344,579)	$	14.50	(515,951)	$	20.44
Forfeited	(5,066)	$	24.62	(3,915)	$	22.38
Outstanding, June 30, 2024 (1)	2,663,666	$	22.62	1,653,631	$	20.51

(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: (i) the cumulative growth in Radian’s book value per share adjusted for certain defined items over the respective three-year performance period and for the performance-based RSUs granted in 2023, which also include a modifier based on a comparison of our total shareholder return to the

total shareholder return of certain of our peers and (ii) 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 period, including the impact of performance adjustments for performance-based awards.