RADIAN GROUP INC — Director's Dealing 2023

May 19, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RADIAN GROUP INC (RDN)
CIK: 0000890926
Period of Report: 2023-05-17

Reporting Person: Ray Eric (Sr. Exec Vice President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-17	Restricted Stock Units - Time-based Award	$0	A	14160	Acquired		Common Stock (14160)	Direct
2023-05-17	Restricted Stock Units - Performance Award	$0	A	22220	Acquired		Common Stock (22220)	Direct

Footnotes

F1: Each RSU represents a contingent right to receive one share of common stock.

F2: Vesting of the time-based RSUs occurs pro rata on each of the first, second and third anniversaries of May 15, 2023.

F3: The number of reported performance-based RSUs represents the target award, with grantees having the potential to earn a number of shares up to 200% of the target award.

F4: Vesting of the performance-based RSUs occurs on May 15, 2026 (between 0 and 44,440 shares) based on the Company's cumulative growth in "LTI Book Value per Share" and Radian's total stockholder return (TSR) as compared to the average TSR of a designated peer group, in each case over a three-year performance period. Distribution of the shares generally is subject to a one-year post-vest holding period.

F5: Not Applicable.