<SEC-DOCUMENT>0001157523-16-005054.txt : 20160405
<SEC-HEADER>0001157523-16-005054.hdr.sgml : 20160405
<ACCEPTANCE-DATETIME>20160405163100
ACCESSION NUMBER:		0001157523-16-005054
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20160330
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20160405
DATE AS OF CHANGE:		20160405

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RADIAN GROUP INC
		CENTRAL INDEX KEY:			0000890926
		STANDARD INDUSTRIAL CLASSIFICATION:	SURETY INSURANCE [6351]
		IRS NUMBER:				232691170
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11356
		FILM NUMBER:		161554878

	BUSINESS ADDRESS:	
		STREET 1:		1601 MARKET STREET
		STREET 2:		12TH FLOOR
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		2155646600

	MAIL ADDRESS:	
		STREET 1:		1601 MARKET ST
		STREET 2:		12TH FLOOR
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CMAC INVESTMENT CORP
		DATE OF NAME CHANGE:	19960126
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<DESCRIPTION>RADIAN GROUP INC. 8-K
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<div style="TEXT-ALIGN: center; MARGIN-TOP: 4.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 14pt; FONT-WEIGHT: bold">FORM 8-K</div>

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<div style="TEXT-ALIGN: center; MARGIN-TOP: 4.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 14pt; FONT-WEIGHT: bold">CURRENT REPORT</div>

<div style="TEXT-ALIGN: center; MARGIN-TOP: 9.9pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Pursuant to Section&#160;13 or 15(d) of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The Securities Exchange Act of 1934</div>

<div style="TEXT-ALIGN: center; MARGIN-TOP: 9.9pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Date of report (Date of earliest event reported) <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>March 30, 2016</u></font></div>

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"> see</font>&#160; General Instruction A.2. below):</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</div>
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<div style="TEXT-ALIGN: left; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">On March 30, 2016, Radian Group Inc. (the &#8220;Company&#8221;) entered into a Severance Agreement and Release with Joseph D&#8217;Urso, former President of Clayton Holdings LLC, the Company&#8217;s mortgage and real estate services business (&#8220;Clayton&#8221;).&#160; As previously disclosed, Mr. D&#8217;Urso&#8217;s employment with Clayton terminated effective March 8, 2016.&#160; Pursuant to the Severance Agreement and Release, Mr. D&#8217;Urso will be entitled to severance payments and other benefits that are substantially similar to those provided in connection with an involuntary termination &#8220;other than for cause&#8221; under his&#160; Executive Officer Agreement with the Company, dated May 5, 2014 (which is substantially similar to the Form of Severance Agreement filed as exhibit 10.1 to the Company&#8217;s Current Report on Form 8-K dated December 30, 2010), except as follows:&#160; Under the Severance Agreement, 75% of the stock options and performance-based restricted stock units awarded to him in 2014, and 50% of the stock options and performance-based restricted stock units awarded to him in 2015 will remain eligible for future vesting, in each case subject to achievement of applicable performance criteria established by the terms of the original grants.&#160; Mr. D&#8217;Urso&#8217;s remaining unvested equity grants will be forfeited.</div>

<div style="TEXT-ALIGN: left; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The Severance Agreement and Release will be effective April 7, 2016, unless earlier revoked by Mr. D&#8217;Urso.&#160; Under his Executive Officer Agreement and the Severance Agreement and Release, Mr. D&#8217;Urso has agreed, among other things, not to compete with the Company and not to solicit the Company&#8217;s employees or customers for twelve months following his termination.</div>

<div style="TEXT-ALIGN: left; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The foregoing is not a complete description of all of the terms and conditions of the Severance Agreement and is qualified in its entirety by reference to the full text of that agreement, which the Company plans to file as an exhibit to its Quarterly Report on Form 10-Q for the quarter ended March 31, 2016.</div>

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<div style="TEXT-ALIGN: left"><u>RADIAN GROUP INC.</u></div>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: -8.8pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; MARGIN-LEFT: 8.8pt; FONT-SIZE: 10pt">Date:&#160; April 5, 2016</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">/s/ Edward J. Hoffman</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">Edward J. Hoffman</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; FONT-SIZE: 10pt">General Counsel and Corporate Secretary</div>
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