Radian director acquires 503.798 dividend rights
RADIAN GROUP INC (RDN) reported that director and Non-Executive Chairman of the Board Howard Bernard Culang acquired 503.798 Dividend Equivalent Rights on September 9, 2026, tied to previously awarded Phantom Stock Units.
Rhea-AI Filing Summary
RADIAN GROUP INC (RDN) reported that director and Non-Executive Chairman of the Board Howard Bernard Culang acquired 503.798 Dividend Equivalent Rights on September 9, 2026, tied to previously awarded Phantom Stock Units. These rights are derivative interests convertible into an equal number of shares of common stock at a $0.00 exercise price.
Following this grant, Culang holds 14,669.474 Dividend Equivalent Rights directly. According to the company’s disclosure, dividend equivalent rights accrued on phantom stock units will be settled proportionately with the related awards, and those awards will be settled in stock upon Culang’s retirement from the Board of Directors. No Rule 10b5-1 trading plan is reported for this transaction.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 503.798 shares
Grant/Award
1 txn
Insider
CULANG HOWARD BERNARD
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Dividend Equivalent Rights F2, F1 | 503.798 | -- | -- |
Holdings After Transaction:
Dividend Equivalent Rights — 14,669.474 contracts (Direct)
Footnotes (2)
- F1. Dividend equivalents accrued on previously awarded Phantom Stock Units. Dividend equivalent rights accrued on phantom stock units will be settled proportionately with the previously granted awards to which they relate. Awards will be settled in stock upon retirement from the Board of Directors.
- F2. Not Applicable
Key Figures
Dividend Equivalent Rights acquired: 503.798 rights
Dividend Equivalent Rights held after transaction: 14,669.474 rights
Exercise price of Dividend Equivalent Rights: $0.00 per underlying share
+2 more
5 metrics
Dividend Equivalent Rights acquired
503.798 rights
Grant on September 9, 2026 to Howard Bernard Culang
Dividend Equivalent Rights held after transaction
14,669.474 rights
Direct holdings of Howard Bernard Culang after the reported grant
Exercise price of Dividend Equivalent Rights
$0.00 per underlying share
Conversion or exercise price for the reported derivative award
Underlying common shares per right
1 share per right
Each of the 503.798 Dividend Equivalent Rights references one share of common stock
Number of derivative transactions reported
1 transaction
Single derivative grant/award acquisition reported on the Form 4
Key Terms
Dividend Equivalent Rights, Phantom Stock Units, Board of Directors
3 terms
Dividend Equivalent Rights financial
"Dividend equivalents accrued on previously awarded Phantom Stock Units. Dividend equivalent rights accrued"
Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.
Phantom Stock Units financial
"Dividend equivalents accrued on previously awarded Phantom Stock Units. Dividend equivalent rights"
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
Board of Directors financial
"Awards will be settled in stock upon retirement from the Board of Directors"
The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did RDN report for Howard Bernard Culang?
Radian Group Inc. reported that director and Non-Executive Chairman Howard Bernard Culang acquired 503.798 Dividend Equivalent Rights on September 9, 2026, as a grant related to previously awarded Phantom Stock Units.
How many Dividend Equivalent Rights in RDN does Howard Culang hold after this Form 4?
After the reported transaction, Howard Bernard Culang directly holds 14,669.474 Dividend Equivalent Rights, each tied to an equivalent number of shares of Radian Group Inc. common stock, based on the company’s disclosure.
What are the key terms of the Dividend Equivalent Rights reported for RDN?
The Dividend Equivalent Rights reported for Radian Group Inc. relate to 503.798 phantom stock-linked units with a $0.00 exercise price. They accrue on previously awarded Phantom Stock Units and reference RDN common stock as the underlying security.
When will Howard Culang’s RDN dividend equivalent and phantom stock awards be settled?
Radian Group Inc. states that dividend equivalent rights on phantom stock units will be settled proportionately with their related awards, and those awards will be settled in stock upon Howard Culang’s retirement from the Board of Directors.
Was the RDN insider transaction under a Rule 10b5-1 trading plan?
No. The filing indicates the Rule 10b5-1 checkbox is not affirmed, and there is no footnote stating that the September 9, 2026 acquisition of Dividend Equivalent Rights was made under a Rule 10b5-1 trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
