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RADIAN GROUP INC — Director's Dealing 2011
Jun 13, 2011
31025_dirs_2011-06-13_25815711-89a9-4a09-ace8-58ab4f8403f0.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: RADIAN GROUP INC (RDN)
CIK: 0000890926
Period of Report: 2011-06-09
Reporting Person: Ibrahim Sanford A (Director, Chief Executive Officer)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2011-06-09 | Stock Option | $3.58 | A | 269700 | Acquired | 2018-06-09 | Common Stock (269700) | Direct |
| 2011-06-09 | Restricted Stock Units -Performance Award | $0 | A | 658080 | Acquired | 2018-06-09 | Common Stock (658080) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 342911 | Direct |
| Common Stock | 12023 | Indirect |
Footnotes
F1: Updated to include common stock acquired through the ESPP in June and December 2010.
F2: Not Applicable.
F3: Non-Qualified Stock Option: Vesting is 50% on the third anniversary of the grant and 50% on the fourth anniversary of the grant, provided that Radian's common stock has closed at 25% above the exercise price of the option for 10 consecutive trading days at any point on or after the third anniversary of the grant.
F4: Performance Based Restricted Stock Units ("RSUs"): Vesting is 100% at the end of the three year performance period, with a potential payout ranging from 0% to 200% (**subject to limitations discussed in Footnote 5 below) of the target award based on Radian's total stockholder return ("TSR") over the three year performance period relative to the median TSR of Radian's primary competitors and the companies listed on the NASDAQ Financial Index. TSR is measured generally as (i) the change in market value of common stock during the period, plus dividends, (ii) divided by the 20 day trading average preceding and including the RSU grant date . The RSUs have no voting or dividend rights and will be settled in cash.
F5: The number of RSUs reported (658,080) represents the target award. **As discussed in Footnote 4 above, at the end of the performance period, the participant may earn up to 200% of the target award, but the 2008 Equity Plan imposes a maximum award limitation of 1 million shares that may be issued to any individual in a calendar year. As a result, the payout of Performance-based RSUs that Mr. Ibrahim can receive is between 0 and 730,300 RSUs, based on the relative performance of Radian's TSR.