RDN Form 4: CEO Thornberry Executes 10b5-1 Sale of 20,000 Shares

Rhea-AI Filing Summary

Richard G. Thornberry, who serves as Chief Executive Officer and a director of Radian Group Inc. (RDN), reported a sale of 20,000 shares of common stock on 09/23/2025 at a reported price of $36.2802 per share. After the transaction he beneficially owned 918,878 shares directly. The Form 4 states the sale was executed under a pre-arranged 10b5-1 trading plan established in August 2024, indicating the trades occurred on preset dates. The filing was signed by an attorney-in-fact on 09/24/2025.

Positive

• Sale executed under a pre-arranged 10b5-1 plan, which provides documented, preset timing for the transaction
• Timely disclosure via Form 4 filed and signed by attorney-in-fact on 09/24/2025

Negative

• Reduction in direct beneficial ownership: 20,000 shares sold, lowering holdings to 918,878 shares
• Sale price disclosed: $36.2802 per share, which may be below or above recent trading levels (market context not provided in this filing)

Insights

Financial Analyst

TL;DR: A routine insider sale of 20,000 shares via a 10b5-1 plan; impact appears limited and informational.

The transaction reduces the CEO's direct holdings to 918,878 shares following a sale executed at $36.2802 per share on 09/23/2025. Because the sale was completed under a pre-established 10b5-1 plan initiated in August 2024, the trade is consistent with pre-arranged disposition activity rather than opportunistic timing. From a quantitative perspective, 20,000 shares is a small fraction of the reported post-sale holding, suggesting limited immediate impact on ownership concentration or voting control.

Corporate Governance Expert

TL;DR: Disclosure is timely and follows standard governance practice for pre-arranged insider sales.

The Form 4 discloses the reporting person is both CEO and a director and that the disposition was made under a 10b5-1 plan, which provides an affirmative defense against insider trading allegations if properly adopted. The filing and POA signature provide transparency to shareholders about executive share movements. No amendments or additional restrictive arrangements are disclosed in the form.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Thornberry Richard G

(Last) (First) (Middle)

RADIAN GROUP INC.

550 E SWEDESFORD ROAD, #350

(Street)

WAYNE PA 19087

(City) (State) (Zip)

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

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/23/2025

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/23/2025		S		20,000(1)	D	$36.2802	918,878	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Pre-arranged sale of common stock pursuant to a 10b5-1 trading plan with sales occurring on preset dates established when the plan was initiated in August 2024.

	Elizabeth Diffley /s/,Elizabeth Diffley, (POA) Atty-in-fact	09/24/2025
	** 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 4 (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.

FAQ

What transaction did RDN insider Richard Thornberry report on Form 4?

The filing reports a sale of 20,000 shares of RDN common stock on 09/23/2025 at a price of $36.2802 per share.

Was the sale by the RDN CEO part of a 10b5-1 trading plan?

Yes. The Form 4 states the sale was executed under a pre-arranged 10b5-1 trading plan established in August 2024.

How many RDN shares does Richard Thornberry beneficially own after the reported sale?

After the transaction he beneficially owned 918,878 shares directly, according to the Form 4.

Who signed the Form 4 for the reporting person?

The Form 4 was signed by Elizabeth Diffley as attorney-in-fact (POA) on behalf of the reporting person on 09/24/2025.

Does the Form 4 show any derivative transactions for Richard Thornberry?

No. The filing contains only a non-derivative sale of common stock; no derivative securities are reported.