RADIAN GROUP INC — Director's Dealing 2013

May 14, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RADIAN GROUP INC (RDN)
CIK: 0000890926
Period of Report: 2013-05-14

Reporting Person: Jackson Catherine Mary (SVP, Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-05-14	Common Stock	M	11250	$2.68	Disposed	27415	Direct
2013-05-14	Common Stock	D	11250	$13.99	Disposed	16165	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-05-14	Stock Appreciation Right (cash settled)	$2.28	M	11250	Disposed	2014-05-13	Common Stock (11250)	Direct

Footnotes

F1: Deemed acquisition and disposition of shares of common stock in connection with the exercise of cash-settled stock appreciation rights.

F2: Not Applicable.