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Filing Details

Accession Number:: 0000890926-10-000034
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-05-17 13:00:00
Reporting Period:: 2010-05-12

Filing Date:: 2010-05-17
Accepted Time:: 2010-05-17 13:45:34
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
890926	Radian Group Inc	RDN	Surety Insurance (6351)	232691170

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1442633	Scott Theobald	Radian Group 1601 Market Street Philadelphia PA 19103	Senior Vice President, Risk	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2010-05-13	4,854	$10.30	27,845	No	4	P	Indirect	401K stock fund

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	401K stock fund

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Option	Acquisiton	2010-05-12	15,400	$0.00	15,400	$10.42
Common Stock	Restricted Stock Units - Performance Rights	Acquisiton	2010-05-12	12,800	$0.00	12,800	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
15,400	2013-05-12	2017-05-12	No	4	A	Direct
12,800		2017-05-12	No	5	A	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	23,042	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Stock Appreciation Right	$2.68	2012-05-13	2014-05-13	40,500	40,500	Direct
Common Stock	Stock Option	$2.48	2011-08-07	2015-08-07	20,600	20,600	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2014-05-13	40,500	40,500	Direct
2015-08-07	20,600	20,600	Direct

Footnotes

Transaction occurred in the Company's 401k Plan. Closing price of RDN on 5/13/10 was $10.30. $50,000 was contributed through an intra-plan transfer into the Radian Group Inc. Common Stock Fund.
Non-Qualified Stock Option : Vesting is 50% at the end of year 3 and 50% at the end of year 4.
Not Applicable.
Performance Based Restricted Stock Units: Vesting is 100% at the end of year three, with settlement in common shares based on the achievement of total shareholder return ("TSR") performance goals as follows: 50% of the award is eligible for a payment (between 0% and 100%, up to 6,400 shares) based on the Company's relative TSR compared to its peers; and 50% of the award is eligible for a payment (between 0% and 150%, up to 9,600 shares) based on the Company's relative TSR compared to the TSR's of companies included in the S&P 400 index. Upon the occurrence of certain corporate events involving one or more companies included in the Company's peer group, the performance goals for the entire award (between 0% and 150%, up to 19,200 shares) would then be based on the Company's relative TSR compared to the TSR's of companies included in the S&P 400 index. TSR is measured generally as (i) the change in market value of common stock during the period, plus dividends, (ii) divided by the market value of common stock as of the RSU grant date. The RSUs have no voting or dividend rights.
The number of RSUs reported (12,800) represents the target award. As discussed in the Footnote above, the number of shares that may be issued upon vesting ranges from 0 shares to 16,000 shares (19,200 shares in the event TSR performance is measured solely gainst the companies included in the S&P 400 index).