SEC FORM 3

SEC FORM 3 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

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1. Name and Address of Reporting Person^*

Keleher Stephen

(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, Co-Head of MI

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	23,510	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	8,260⁽³⁾⁽⁴⁾	$0⁽²⁾	D
Restricted Stock Units - Performance Award	05/15/2027	⁽¹⁾	Common Stock	6,710⁽³⁾⁽⁵⁾	$0⁽²⁾	D
Restricted Stock Units - Performance Award	05/15/2028	⁽¹⁾	Common Stock	6,810⁽³⁾⁽⁶⁾	$0⁽²⁾	D
Restricted Stock Units - Time-based Award	05/15/2026	⁽¹⁾	Common Stock	1,837⁽⁷⁾	$0⁽²⁾	D
Restricted Stock Units - Time-based Award	05/15/2027	⁽¹⁾	Common Stock	2,980⁽⁸⁾	$0⁽²⁾	D
Restricted Stock Units - Time-based Award	05/15/2028	⁽¹⁾	Common Stock	4,540⁽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 16,520 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 13,420 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 13,620 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.

New insider Keleher Stephen claimed ownership of 23,510 shares (SEC Form 3)