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| Capital Stock | 14. Capital Stock Shares of Common Stock The following table provides the changes in common stock outstanding for each of the periods indicated.
Share Repurchase Activity From time to time, Radian Group’s board of directors approves and authorizes the Company to repurchase Radian Group common stock in the open market or in privately negotiated transactions, based on market and business conditions, stock price and other factors. As of March 31, 2026, Radian had two outstanding share repurchase authorizations in effect, as further discussed below. Radian generally executes its share repurchases pursuant to trading plans under Rule 10b5-1 of the Exchange Act (“Rule 10b5-1”), which permits the Company to purchase shares when it may otherwise be precluded from doing so. The first share repurchase authorization commenced in January 2023 with a scheduled expiration date of June 2026 and authorized the Company to repurchase shares up to $900 million, excluding commissions. During the three months ended March 31, 2026, the Company purchased 1.5 million shares at an average price of $34.35 per share, including commissions, pursuant to this share repurchase authorization. As of March 31, 2026, purchase authority of up to $63 million remained available under this authorization. In May 2025, Radian Group’s board of directors authorized a second repurchase authorization to purchase shares up to an additional $750 million, excluding commissions. Under this second authorization, the full amount remained available as of March 31, 2026. Use of this authorization will commence once the first authorization is exhausted or expires. This second authorization is scheduled to expire in December 2027. During April 2026, the Company purchased 1.9 million shares of its common stock under its share repurchase program at an average price of $34.28 per share, including commissions. After giving consideration to these repurchases, purchase authority under the first share repurchase authorization has been exhausted and up to $748 million of share repurchases remained available under the second repurchase authorization. The Inflation Reduction Act of 2022 imposed a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. Unless otherwise noted, all dollar amounts presented in this report related to our share repurchases and our share repurchase authorizations exclude such excise taxes, to the extent applicable. Dividends and Dividend Equivalents The following table presents the amount of dividends declared and paid, on a per share basis, for each quarter and annual period as indicated.
N/A – Not applicable Dividend equivalents are accrued on RSUs when dividends are declared on the Company’s common stock and are typically paid upon vesting of the shares. See Note 17 of Notes to Consolidated Financial Statements in our 2025 Form 10-K for information about our dividend equivalents on RSU awards. |
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