Does each RSU reported by Daniel Kobell equal one Radian Group share?

Yes. The filing states that each RSU represents a contingent right to receive one share of Radian Group common stock, meaning vested RSUs convert one-for-one into shares when vesting and other conditions are satisfied.

Radian Group (NYSE: RDN) interim CFO reports RSU and share holdings

Q: What does Daniel Kobell’s Form 3 disclose for RDN?

The Form 3 shows that Sr. EVP and Interim CFO Daniel Kobell directly owns 3,311 Radian Group common shares and holds several restricted stock unit (RSU) awards, including performance-based and time-based grants that vest over multi‑year periods.

Q: What metrics determine vesting of RDN performance RSUs reported by Daniel Kobell?

Vesting depends on Radian’s cumulative growth in “LTI Book Value per Share” and the company’s total stockholder return versus a designated peer group over a three‑year period, with results setting how many performance RSUs convert into Radian common shares.

Q: What time-based RSU awards does Daniel Kobell hold at Radian Group?

Kobell holds time-based RSU awards granted on May 17, 2023 , May 22, 2024 , and May 21, 2025 . Each grant vests in three equal annual installments starting from May 15 of the grant year, with reported shares representing unvested remaining portions.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Radian Group executive Daniel Kobell, Sr. EVP and Interim CFO, filed an initial ownership report detailing his equity in the company. He directly holds 3,311 shares of common stock, along with multiple grants of restricted stock units (RSUs).

Each RSU represents a contingent right to receive one share of common stock. Several RSU awards are performance-based, vesting between 0 and 14,160 shares, 0 and 12,460 shares, and 0 and 12,700 shares on May 15, 2026, 2027 and 2028, depending on growth in “LTI Book Value per Share” and relative total stockholder return. Additional time-based RSU awards were granted in 2023, 2024 and 2025, vesting in three equal annual installments, with the reported balances representing the unvested remaining portions.

Insider Trade Summary

7 transactions reported

Mixed 7 txns

Insider Kobell Daniel

Role Sr. EVP, Interim CFO

Type	Security	Shares	Price	Value
holding	Restricted Stock Units - Performance Award	--	--	--
holding	Restricted Stock Units - Performance Award	--	--	--
holding	Restricted Stock Units - Performance Award	--	--	--
holding	Restricted Stock Units - Time-based Award	--	--	--
holding	Restricted Stock Units - Time-based Award	--	--	--
holding	Restricted Stock Units - Time-based Award	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units - Performance Award — 7,080 shares (Direct); Restricted Stock Units - Time-based Award — 1,574 shares (Direct); Common Stock — 3,311 shares (Direct)

Footnotes (1)

N/A Each RSU represents a contingent right to receive one share of common stock. 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. Vesting of the performance-based RSUs occurs on May 15, 2026 (between 0 and 14,160 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. Vesting of the performance-based RSUs occurs on May 15, 2027 (between 0 and 12,460 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. Vesting of the performance-based RSUs occurs on May 15, 2028 (between 0 and 12,700 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. The award was granted on May 17, 2023 and the award vests proportionately on the first, second and third anniversary of May 15, 2023. Shares reported outstanding are unvested and reflect the remaining one-third of the shares granted. The award was granted on May 22, 2024 and the award vests proportionately on the first, second and third anniversary of May 15, 2024. Shares reported outstanding are unvested and reflect the remaining two-thirds of the shares granted. The award was granted on May 21, 2025 and the award vests proportionately on the first, second and third anniversary of May 15, 2025.

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Understanding Insider Trading Forms →

Accepted by SEC EDGAR 02/23/2026 - 06:15 PM

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Kobell Daniel

(Last)

(First)

(Middle)

RADIAN GROUP INC., 550 E SWEDESFORD ROAD

#350

(Street)

WAYNE

19087

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/12/2026

3. Issuer Name and Ticker or Trading Symbol
RADIAN GROUP INC [ RDN ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Sr. EVP, Interim CFO

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	3,311	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Restricted Stock Units - Performance Award	05/15/2026	⁽¹⁾	Common Stock	7,080⁽³⁾⁽⁴⁾	$0⁽²⁾	D
Restricted Stock Units - Performance Award	05/15/2027	⁽¹⁾	Common Stock	6,230⁽³⁾⁽⁵⁾	$0⁽²⁾	D
Restricted Stock Units - Performance Award	05/15/2028	⁽¹⁾	Common Stock	6,350⁽³⁾⁽⁶⁾	$0⁽²⁾	D
Restricted Stock Units - Time-based Award	05/15/2026	⁽¹⁾	Common Stock	1,574⁽⁷⁾	$0⁽²⁾	D
Restricted Stock Units - Time-based Award	05/15/2027	⁽¹⁾	Common Stock	2,774⁽⁸⁾	$0⁽²⁾	D
Restricted Stock Units - Time-based Award	05/15/2028	⁽¹⁾	Common Stock	4,240⁽⁹⁾	$0⁽²⁾	D

Explanation of Responses:

1. N/A

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

3. 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.

4. Vesting of the performance-based RSUs occurs on May 15, 2026 (between 0 and 14,160 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.

5. Vesting of the performance-based RSUs occurs on May 15, 2027 (between 0 and 12,460 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.

6. Vesting of the performance-based RSUs occurs on May 15, 2028 (between 0 and 12,700 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.

7. The award was granted on May 17, 2023 and the award vests proportionately on the first, second and third anniversary of May 15, 2023. Shares reported outstanding are unvested and reflect the remaining one-third of the shares granted.

8. The award was granted on May 22, 2024 and the award vests proportionately on the first, second and third anniversary of May 15, 2024. Shares reported outstanding are unvested and reflect the remaining two-thirds of the shares granted.

9. The award was granted on May 21, 2025 and the award vests proportionately on the first, second and third anniversary of May 15, 2025.

	Elizabeth Diffley /s/,Elizabeth Diffley, (POA) Atty-in-fact	02/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What does Daniel Kobell’s Form 3 disclose for RDN?

The Form 3 shows that Sr. EVP and Interim CFO Daniel Kobell directly owns 3,311 Radian Group common shares and holds several restricted stock unit (RSU) awards, including performance-based and time-based grants that vest over multi‑year periods.

How do Radian Group (RDN) performance-based RSUs work for Daniel Kobell?

Kobell’s performance-based RSUs each equal one share of stock and can vest between 0 and 14,160, 0 and 12,460, and 0 and 12,700 shares on May 15, 2026, 2027 and 2028, depending on Radian’s book value growth and relative total stockholder return.

What metrics determine vesting of RDN performance RSUs reported by Daniel Kobell?

Vesting depends on Radian’s cumulative growth in “LTI Book Value per Share” and the company’s total stockholder return versus a designated peer group over a three‑year period, with results setting how many performance RSUs convert into Radian common shares.

What time-based RSU awards does Daniel Kobell hold at Radian Group?

Kobell holds time-based RSU awards granted on May 17, 2023, May 22, 2024, and May 21, 2025. Each grant vests in three equal annual installments starting from May 15 of the grant year, with reported shares representing unvested remaining portions.

Is Daniel Kobell’s Form 3 for Radian Group a buy or sell transaction?

No buy or sell transactions are reported. The Form 3 functions as an initial ownership statement, listing Kobell’s existing holdings of Radian common stock and restricted stock units rather than documenting new purchases or sales.