XML 60 R48.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Share-Based Compensation and Other Benefit Programs (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
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) |  | 2024 |  |  | 2023 |  |  | 2022 |
Compensation cost recognized (1) |  |  |  |  |  |  |  |  |
RSUs |  | $ | 37,921 |  |  | $ | 40,567 |  |  | $ | 37,465 |
ESPP and other |  |  | 552 |  |  |  | 562 |  |  |  | 596 |
Total compensation cost recognized |  |  | 38,473 |  |  |  | 41,129 |  |  |  | 38,061 |
Income tax benefit related to share-based compensation expense |  |  | 13,379 |  |  |  | 9,434 |  |  |  | 7,524 |
Share-based compensation expense, net |  | $ | 25,094 |  |  | $ | 31,695 |  |  | $ | 30,537 |
(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, 2023 (1) |  |  | 2,970,874 |  |  | $ | 18.28 |  |  |  | 1,786,615 |  |  | $ | 18.16 |
Granted (2) |  |  | 484,480 |  |  |  | 29.32 |  |  |  | 434,233 |  |  |  | 31.68 |
Performance adjustment (3) |  |  | 557,957 |  |  |  | — |  |  |  | — |  |  |  | — |
Vested (4) |  |  | (1,344,579 | ) |  |  | 14.50 |  |  |  | (618,193 | ) |  |  | 20.80 |
Forfeited |  |  | (29,542 | ) |  |  | 27.03 |  |  |  | (13,259 | ) |  |  | 27.62 |
Outstanding, December 31, 2024 (1) |  |  | 2,639,190 |  |  | $ | 22.57 |  |  |  | 1,589,396 |  |  | $ | 20.75 |
(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: (i) the cumulative growth in Radian’s book value per share adjusted for certain defined items over the respective three-year performance period and, for the performance-based RSUs granted in 2024 and 2023, a modifier based on a comparison of our total shareholder return to the total shareholder return of certain of our peers and (ii) 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, amount represents the difference between the number of shares vested at settlement, which can range from 0 to 200% of target depending on results over the applicable performance periods, and the number of target shares at the grant date. (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, 2023 |  |  | 234,505 |  |  | $ | 14.97 |  |  |  |  |  |
Granted |  |  | — |  |  |  | — |  |  |  |  |  |
Exercised |  |  | (86,595 | ) |  |  | 15.69 |  |  |  |  |  |
Forfeited |  |  | — |  |  |  | — |  |  |  |  |  |
Expired |  |  | — |  |  |  | — |  |  |  |  |  |
Outstanding, December 31, 2024 |  |  | 147,910 |  |  | $ | 14.55 |  |  | 1.0 years |  | $ | 2,539 |
Exercisable, December 31, 2024 |  |  | 147,910 |  |  | $ | 14.55 |  |  | 1.0 years |  | $ | 2,539 |
(1) Based on the market price of $31.72 at December 31, 2024.
Summary of Additional Information Concerning Stock Option Activity | The following table summarizes additional information concerning stock option activity for the periods indicated.
Additional information |  |  |  |  |  |  |  |  |
|  | Years Ended December 31, |
(In thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Aggregate intrinsic value of options exercised |  | $ | 1,266 |  |  | $ | 1,273 |  |  | $ | 2,926 |
Tax benefit of options exercised |  |  | 266 |  |  |  | 267 |  |  |  | 614 |
Cash received from options exercised |  |  | 928 |  |  |  | 1,755 |  |  |  | 1,341 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAndExercisableTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration