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Share-Based Compensation and Other Benefit Programs (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of Compensation Cost Recognized | The following table summarizes the compensation cost recognized and additional information regarding all share-based awards for the years indicated.
Share-based compensation expense |  |  |  |  |  |
|  | Years Ended December 31,
(In thousands) |  | 2022 |  | 2021 |  | 2020
Compensation cost recognized (1) |  |  |  |  |  |
RSUs |  | $ | 37,465 |  |  | $ | 27,803 |  |  | $ | 18,403 |
ESPP and other |  | 596 |  |  | 560 |  |  | 790 |
Total compensation cost recognized |  | 38,061 |  |  | 28,363 |  |  | 19,193 |
Income tax benefit related to share-based compensation expense |  | 7,524 |  |  | 7,168 |  |  | 4,264 |
Share-based compensation expense, net |  | $ | 30,537 |  |  | $ | 21,195 |  |  | $ | 14,929 |
(1)Compensation cost is generally recognized over the periods that an employee provides service in exchange for the award. For purposes of calculating compensation cost recognized for retirement eligible grantees, we consider the service condition to be met (and recognize the full compensation costs) as of the date when a grantee becomes retirement eligible.
Schedule of RSUs Equity-Settled | Information with regard to RSUs to be settled in stock for the periods indicated is as follows.
Rollforward of RSUs |  |  |  |  |  |  |  |
|  | Performance-Based |  | Time-Vested
|  | Number of Shares |  | Weighted-Average Grant Date Fair Value |  | Number of Shares |  | Weighted-Average Grant Date Fair Value
Outstanding, December 31, 2021 (1) |  | 2,340,673 |  |  | $ | 16.76 |  |  | 1,808,551 |  |  | $ | 15.51 |
Granted (2) |  | 643,740 |  |  | 20.09 |  |  | 612,099 |  |  | 20.61 |
Performance adjustment (3) |  | 197,534 |  |  | — |  |  | — |  |  | — |
Vested (4) |  | (796,479) |  |  | 18.35 |  |  | (503,231) |  |  | 19.47 |
Forfeited |  | (23,067) |  |  | 20.08 |  |  | (25,619) |  |  | 18.77 |
Outstanding, December 31, 2022 (1) |  | 2,362,401 |  |  | $ | 17.59 |  |  | 1,891,800 |  |  | $ | 16.06 |
(1)Outstanding RSUs represent shares that have not yet been issued because not all conditions necessary to earn the right to benefit from the instruments have been satisfied. For performance-based awards, the final number of RSUs distributed depends on the cumulative growth in Radian’s book value over the respective three-year performance period and, with the exception of certain retirement-eligible employees, continued service through the vesting date, which could result in changes in the number of vested RSUs. (2)For performance-based RSUs, amount represents the number of target shares at grant date. (3)For performance-based RSUs, represents the difference between the number of target shares at grant date and the number of shares vested at settlement, which can range from 0 to 200% of target depending on results over the applicable performance periods. (4)Represents amounts vested during the year, including the impact of performance adjustments for performance-based awards.
Schedule of Information with Regard to Stock Options | Information with regard to stock options for the periods indicated is as follows.
Rollforward of non-qualified stock options
($ in thousands, except per-share amounts) |  | Number of Shares |  | Weighted Average Exercise Price Per Share |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value (1)
Outstanding, December 31, 2021 |  | 563,906 |  |  | $ | 12.21 |  |  |  |  |
Granted |  | — |  |  | — |  |  |  |  |
Exercised |  | (192,501) |  |  | 7.24 |  |  |  |  |
Forfeited |  | — |  |  | — |  |  |  |  |
Expired |  | — |  |  | — |  |  |  |  |
Outstanding, December 31, 2022 |  | 371,405 |  |  | $ | 14.78 |  |  | 2.1 years |  | $ | 1,593 |
Exercisable, December 31, 2022 |  | 371,405 |  |  | $ | 14.78 |  |  | 2.1 years |  | $ | 1,593 |
(1)Based on the market price of $19.07 at December 31, 2022.
Schedule of Information of Exercised Stock Options | The following table summarizes additional information concerning stock option activity for the periods indicated.
Additional information |  |  |  |  |  |
|  | Years Ended December 31,
(In thousands) |  | 2022 |  | 2021 |  | 2020
Aggregate intrinsic value of options exercised |  | $ | 2,926 |  |  | $ | 3,354 |  |  | $ | 3,344 |
Tax benefit of options exercised |  | 614 |  |  | 704 |  |  | 702 |
Cash received from options exercised |  | 1,341 |  |  | 1,382 |  |  | 1,553 |

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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding and exercisable options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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