Share-Based Compensation Programs (Tables)

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Information with regard to RSUs to be settled in stock is as follows.


Rollforward of RSUs

	Performance-Based					Time-Vested
	Number of Shares			Weighted Average Grant Date Fair Value		Number of Shares			Weighted Average Grant Date Fair Value
Outstanding, December 31, 2025 (1)		2,495,801		$	24.61		1,334,770		$	23.94
Granted (2)		867,710			36.45		1,139,011			35.05
Performance adjustment (3)		309,892			—	N/A			N/A
Vested (4)		(982,459	)		21.42		(560,867	)		25.78
Forfeited		(76,827	)		30.44		(35,673	)		33.18
Outstanding, June 30, 2026 (1) (5)		2,614,117		$	29.44		1,877,241		$	29.95

N/A – Not applicable

(1)

Outstanding RSUs represent shares that have not yet been issued because not all conditions necessary to earn the right to benefit from the instruments have been satisfied. For performance-based awards, the final number of RSUs distributed depends on: (i) the cumulative growth in Radian’s book value per share adjusted for certain defined items over the respective three-year performance period and, for the performance-based RSUs granted starting in 2023, a modifier based on our relative total shareholder return performance and (ii) with the exception of certain retirement-eligible employees, continued service through the vesting date, which could result in changes to the number of vested RSUs.

(2)

For performance-based RSUs, amount represents the number of target shares at grant date.

(3)

For performance-based RSUs, amount represents the difference between the number of shares vested at settlement, which can range from 0 to 200% of target depending on results over the applicable performance periods and the number of target shares at the grant date.

(4)

Represents amounts vested during the period, including the impact of performance adjustments for performance-based awards.

(5)

Includes 117 thousand performance-based shares and 71 thousand time-vested shares granted to employees in our Mortgage Conduit, Title and Real Estate Services businesses, which are presented as discontinued operations.