Form 4: Radian Group Executive Eric Ray Disposes of Shares to Cover Tax Obligations After RSU Distribution
SEC Form 4 Filing
Eric Ray, Sr. EVP and Chief Digital Officer of Radian Group Inc., reports the distribution of shares related to vested RSUs and subsequent disposal to cover tax liabilities.
Summary
- On May 13, 2024, Eric Ray, Sr. EVP, Chief Digital Officer of Radian Group Inc., received 89,160 shares of common stock related to previously granted and vested Restricted Stock Units (RSUs).
- These RSUs were initially granted on May 13, 2020, vested on May 13, 2023, and were subject to a one-year post-vest hold.
- Concurrently, 33,674 shares were withheld by Radian Group Inc. to satisfy tax liabilities incurred upon the distribution of these performance-based RSUs at a price of $31.43 per share.
- Following these transactions, Ray directly owns 109,277 shares of Radian Group Inc. common stock.
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to executive compensation and tax obligations, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests between management and shareholders.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 05/13/2020 | Date of grant for the Restricted Stock Units (RSUs). |
| 05/13/2023 | Date the Restricted Stock Units (RSUs) vested. |
| 05/13/2024 | Date of distribution of shares of common stock related to RSUs and shares withheld for tax liability. |
| 05/15/2024 | Date of signature for the Form 4 filing. |
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