UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On July 8, 2024, Brien J. McMahon, Senior Executive Vice President and Chief Franchise Officer of Radian Group Inc. (the “Company”) was notified that his position was being eliminated and that his employment would be involuntarily terminated without cause, effective September 13, 2024 (“Termination Date”). Mr. McMahon is expected to remain in his position with the Company through his Termination Date to support the orderly transition of his responsibilities.
Mr. McMahon will be entitled to receive the compensation and other benefits applicable to a qualifying termination under his previously disclosed Executive Severance Agreement, as described in the Company’s Proxy Statement filed with the Securities and Exchange Commission on April 5, 2024. Pursuant to the previously disclosed Executive Severance Agreement, in order to receive the severance and other benefits, Mr. McMahon must execute a release of claims against the Company upon termination of his employment. Under Mr. McMahon’s previously disclosed Executive Severance Agreement, he has agreed not to compete with the Company and not to solicit the Company’s employees or customers for twelve months following his Termination Date.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| RADIAN GROUP INC. | ||||||
| (Registrant) | ||||||
| Date: July 12, 2024 | ||||||
| By: | /s/ Edward J. Hoffman | |||||
| Edward J. Hoffman | ||||||
| Senior Executive Vice President, General Counsel and Corporate Secretary | ||||||