RADIAN GROUP INC — Director's Dealing 2011

May 12, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RADIAN GROUP INC (RDN)
CIK: 0000890926
Period of Report: 2011-05-11

Reporting Person: RICHARDS ROBERT (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-11	Restricted Stock Unit	$0	A	20796	Acquired		Common Stock (20796)	Direct

Footnotes

F1: Award represents an annual equity award to non-employee directors.

F2: Each RSU represents a contingent right to receive one share of common stock.

F3: Each RSU vests on the third anniversary of the grant or earlier upon the reporting person's retirement, death or disability; following vesting, conversion of the RSUs into common stock will occur upon the reporting person's departure from the board of directors.

F4: Not Applicable to this transaction.