RADIAN GROUP INC — Director's Dealing 2014

Feb 19, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RADIAN GROUP INC (RDN)
CIK: 0000890926
Period of Report: 2014-02-14

Reporting Person: Ibrahim Sanford A (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-02-14	Common Stock	M	50000	$2.68	Acquired	228650	Direct
2014-02-14	Common Stock	D	50000	$15.78	Disposed	178650	Direct
2014-02-18	Common Stock	M	50000	$2.68	Acquired	228650	Direct
2014-02-18	Common Stock	D	50000	$15.95	Disposed	178650	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-02-14	Stock Appreciation Right (Cash Settled)	$2.68	M	50000	Disposed	2014-05-13	common stock (50000)	Direct
2014-02-18	Stock Appreciation Right (Cash Settled)	$2.68	M	50000	Disposed	2014-05-13	common stock (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	500000	Indirect
Common Stock	12095	Indirect

Footnotes

F1: Represents the exercise of 50,000 of the 269,000 cash-settled Stock Appreciation Rights scheduled to expire May 13, 2014.

F2: Includes 821 shares acquired through the Employee Stock Purchase Plan on December 31, 2013.

F3: Represents the exercise of 50,000 of the remaining 219,000 cash-settled Stock Appreciation Rights scheduled to expire May 13, 2014.

F4: Transaction involved a gift of shares to a trust for the benefit of a member of the Reporting Person's family. The Reporting Person retains voting and investment control over the gifted shares and therefore, the 500,000 shares remain beneficially owned by the Reporting Person.

F5: N/A