RADIAN GROUP INC — Director's Dealing 2010

May 14, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RADIAN GROUP INC (RDN)
CIK: 0000890926
Period of Report: 2010-05-12

Reporting Person: CULANG HOWARD BERNARD (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-05-12	restricted stock unit	$0	A	11036	Acquired		common stock (11036)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common stock	0	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
restricted stock unit	$		common stock (42910)	42910	Direct
Phantom Stock Unit	$0	2015-08-07	Common Stock (46370)	46370	Direct
Phantom Stock Unit	$0	2017-02-05	common stock (1890)	1890	Direct
dividend equivalent rights	$0	2019-03-04	common stock (14.2808)	458.2294	Direct
phantom stock unit	$0	2016-02-07	common stock (2052)	2052	Direct
phantom stock unit	$0	2015-02-08	common stock (2015)	2015	Direct
phantom stock unit	$0	2014-02-10	common stock (2122)	2122	Direct
stock option	$35.79	2013-01-30	common stock (2400)	2400	Direct
phantom Stock Unit	$0	2013-01-30	common stock (800)	800	Direct
stock option	$21.0313	2010-01-18	common stock (2400)	2400	Direct
Phantom Stock Unit	$0	2009-12-17	common stock (800)	800	Direct
Phantom Stock Unit	$0	2010-12-05	common stock (800)	800	Direct
stock option	$27.1875	2011-01-22	common stock (2400)	2400	Direct
stock option	$35.81	2011-11-06	common stock (2400)	2400	Direct
Phantom Stock Unit	$0	2011-11-06	common stock (800)	800	Direct

Footnotes

F1: n/a

F2: 1-for-1

F3: Dividend equivalents accrued on unvested Phantom Stock Units. Dividend equivalents reported herein are related to various Phantom Stock Units outstanding.

F4: Each RSU represents a contingent right to receive a cash settlement equal to the value of one share of common stock for each restricted stock unit

F5: RSU's are paid in cash at the time of retirement from the board of directors