- Current report filing (8-K)
June 01 2012 - 4:18PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
Date
of report (Date of earliest event reported) May 30, 2012
Radian Group Inc.
(Exact
Name of Registrant as Specified in Its Charter)
Delaware
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1-11356
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23-2691170
|
(State or Other Jurisdiction
of Incorporation)
|
(Commission
File Number)
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(IRS Employer
Identification No.)
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1601
Market Street, Philadelphia, Pennsylvania
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19103
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(215) 231 - 1000
(Registrant’s
Telephone Number, Including Area Code)
(Former
Name or Former Address, if Changed Since Last Report)
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
(
see
General
Instruction A.2. below)
:
⃞
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
⃞
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
⃞
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
⃞
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 5.02.
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
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(e)
On May 18, 2012,
Radian Group Inc. (the “Company”) disclosed certain planned changes to
its executive compensation program related to the 2012 long-term
incentive awards for the Company’s named executive officers (the “2012
LTI Awards”). Among other things, the Company disclosed that the grant
date fair value of the 2012 LTI Award for each named executive officer
will be at least 20% less than the 2011 long-term incentive award for
such officer, as reported in the 2011 Summary Compensation Table filed
with the Company’s most recent proxy statement.
In order to implement the planned changes discussed above,
on May 30, 2012, Sanford A. Ibrahim, the Company’s Chief Executive
Officer, waived with respect to his 2012 LTI Award, the provision of his
employment agreement dated April 5, 2011 that provides that his annual
target level of long-term incentive compensation will not be less than
$3.15 million (3.5 times his current base salary). As part of this
waiver, Mr. Ibrahim agreed that the grant date fair value of his 2012
LTI Award would be approximately $2.45 million, an amount that is 20%
less than the grant date fair value of his 2011 long-term incentive
award.
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.
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RADIAN GROUP INC.
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(Registrant)
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Date:
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June 1, 2012
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By:
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/s/ Edward J. Hoffman
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Edward J. Hoffman
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General Counsel and Corporate Secretary
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