# EDGAR Filing Document

**Accession Number:** 0000890926
**File Stem:** 0001193125-26-233978
**Filing Date:** 2026-5
**Character Count:** 46897
**Document Hash:** ccd632cbb4c733cbdcf7594f1cbdb704
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-233978.hdr.sgml**: 20260622

**ACCESSION NUMBER**: 0001193125-26-233978

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 16

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**EFFECTIVENESS DATE**: 20260521

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RADIAN GROUP INC
- **CENTRAL INDEX KEY:** 0000890926
- **STANDARD INDUSTRIAL CLASSIFICATION:** SURETY INSURANCE [6351]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 232691170
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-296109
- **FILM NUMBER:** 261007078

**BUSINESS ADDRESS:**
- **STREET 1:** 550 EAST SWEDESFORD ROAD
- **STREET 2:** SUITE 350
- **CITY:** WAYNE
- **STATE:** PA
- **ZIP:** 19087
- **BUSINESS PHONE:** 2155646600

**MAIL ADDRESS:**
- **STREET 1:** 550 EAST SWEDESFORD ROAD
- **STREET 2:** SUITE 350
- **CITY:** WAYNE
- **STATE:** PA
- **ZIP:** 19087

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CMAC INVESTMENT CORP
- **DATE OF NAME CHANGE:** 19960126

**As filed with the Securities and Exchange Commission on May 21, 2026** 

**Registration No. 333-<u> </u>** 

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM S-8** 

**REGISTRATION STATEMENT** 

***UNDER***

***THE SECURITIES ACT OF 1933***

## RADIAN GROUP INC.
**(Exact name of Registrant as specified in its charter)** 

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| | |
|:---|:---|
| **Delaware** | **23-2691170** |
| **(State or other jurisdiction of**<br> **incorporation or organization)** | **(I.R.S. Employer**<br> **Identification Number)** |

---

---

| | |
|:---|:---|
| **500 East Swedesford Road, Suite 350**<br> **Wayne, Pennsylvania** | **19087** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**Radian Group Inc. 2026 Equity Compensation Plan** 

**(Full title of the plan)** 

**Elizabeth A. Diffley** 

**Executive Vice President, Senior Corporate Counsel and Corporate Secretary** 

**Radian Group Inc.** 

**500 East Swedesford Road, Suite 350** 

**Wayne, Pennsylvania 19087** 

**(Name and address of agent for service)** 

**(215) 231-1000** 

**(Telephone number, including area code, of agent for service)** 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

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| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
| Non-accelerated filer | ☐ (Do not check if a smaller reporting company) | Smaller reporting company | ☐ |
|  |  | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

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**EXPLANATORY NOTE** 

This Registration Statement on Form S-8 (this "Registration Statement") is filed by Radian Group Inc., a Delaware corporation (the "Registrant"), to register 7,995,047 shares of the Registrant's common stock, par value $0.001 per share (the "Common Stock"), reserved for issuance under the Radian Group Inc. 2026 Equity Compensation Plan (the "2026 Equity Plan"), consisting of the sum of (a) 2,000,000 newly authorized shares, plus (b) 1,875,293 shares that remained available for awards under the Radian Group Inc. 2021 Equity Compensation Plan (the "2021 Equity Plan") as of May 21, 2026, plus (c) up to 4,119,754 shares of Common Stock subject to outstanding awards under the 2021 Equity Plan as of May 21, 2026 that are payable in shares and that terminate, expire, or are canceled without having been exercised, vested or settled in full, as applicable, on or after May 21, 2026.

**PART I** 

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS** 

Documents containing the information specified in Part I of Form S-8 will be sent or given to employees as specified by Rule 428(b)(1) of the Securities Act of 1933 (the "Securities Act"). In accordance with the instructions of Part I of Form S-8, such document will not be filed with the Securities and Exchange Commission (the "SEC") either as part of the Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act (by incorporation by reference or otherwise). These documents and the documents incorporated by reference pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute the prospectus as required under Section 10(a) of the Securities Act.

**PART II** 

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

**Item 3.** **Incorporation of Documents by Reference.** <br>

The following documents, which have been filed by the Registrant with the SEC, are hereby incorporated by reference in this Registration Statement:

(a) Registrant's Annual Report on [Form 10-K](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0000890926/000119312526061383/rdn-20251231.htm) for the fiscal year ended December 31, 2025, filed with the SEC on February 20, 2026;

(b) The information specifically incorporated by reference into Registrant's Annual Report on Form 10-K from Registrant's definitive proxy statement on [Schedule 14A](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0000890926/000119312526140155/rdn-20260401.htm), filed with the SEC on April 2, 2026;

(c) Registrant's Quarterly Report on [Form 10-Q](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0000890926/000119312526215018/rdn-20260331.htm) for the quarter ended March 31, 2026, filed with the SEC on May 8, 2026;

(d) Registrant's Current Reports on Form 8-K filed with the SEC on [January 22, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0000890926/000119312526019508/d18516d8k.htm), [February 3, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0000890926/000119312526035665/d47949d8k.htm), [February 9, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0000890926/000119312526042942/d75076d8k.htm), [February 12, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0000890926/000119312526048971/d79736d8k.htm), [March 26, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0000890926/000119312526126293/d113548d8k.htm), [April 21, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0000890926/000119312526166824/d144609d8k.htm), and Current Reports on Form 8-K/A filed with the SEC on [April 3, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0000890926/000119312526142185/d40029d8ka.htm) and [April 17, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0000890926/000119312526161776/rdn-20260202.htm); and

(e) The description of the Registrant's Common Stock contained in [Exhibit 4.5](http://www.sec.gov/Archives/edgar/data/890926/000119312526061383/rdn-ex4_5.htm) to the Registrant's Annual Report on Form 10-K for the year ended December 31, 2025, and any and all amendments or reports filed for the purpose of updating such description.

All reports and other documents subsequently filed the by Registrant pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), on or after the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered hereby have been sold or which deregisters all securities remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing of such

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reports or other documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified shall not be deemed to constitute a part of the Registration Statement except as so modified and any statement so superseded shall not be deemed to constitute a part of this Registration Statement.

Registrant will furnish without charge to you, upon written or oral request, a copy of any or all of the documents described above, except for exhibits to those documents, unless the exhibits are specifically incorporated by reference into those documents. Requests for copies should be addressed to:

Radian Group Inc.

500 East Swedesford Road, Suite 350

Wayne, Pennsylvania 19087

Attention: Investor Relations

Telephone: (215) 231-1000

**Item 4.** **Description of Securities.** <br>

Not applicable.

**Item 5.** **Interests of Named Experts and Counsel.** <br>

Not applicable.

**Item 6.** **Indemnification of Directors and Officers.** <br>

Section 102(b)(7) of the Delaware General Corporation Law (the "DGCL") permits a corporation, in its certificate of incorporation, to limit or eliminate, subject to certain statutory limitations, the liability of directors and officers to the corporation or its stockholders for monetary damages for breaches of fiduciary duty, except for liability (a) for any breach of the director's or officer's duty of loyalty to the corporation or its stockholders, (b) for acts or omissions by a director or officer not in good faith or which involve intentional misconduct or a knowing violation of law, (c) where a director authorized the payment of a dividend or approved a stock repurchase or redemption in violation of Section 174 of the DGCL, (d) for any transaction from which the director or officer derived an improper personal benefit, or (e) with respect to an officer, in any action by or in the right of the corporation. Article Seventh of the Registrant's amended and restated certificate of incorporation provides that the personal liability of the Registrant's directors is eliminated to the fullest extent permitted by the DGCL.

Under Section 145 of the DGCL, a corporation has the power to indemnify directors and officers under certain prescribed circumstances and subject to certain limitations against certain costs and expenses, including attorneys' fees actually and reasonably incurred in connection with any action, suit or proceeding, whether civil, criminal, administrative or investigative, to which any of them is a party by reason of being a director or officer of the corporation if it is determined that the director or officer acted in accordance with the applicable standard of conduct set forth in such statutory provision. Article VII of the Company's amended and restated by-laws provides that the Registrant will indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding by reason of the fact that the person is or was a director, officer or other authorized representative of the Registrant, or is or was serving at the request of the Registrant as a director, officer, employee or agent of another entity, against certain liabilities, costs and expenses. Notwithstanding the foregoing, the Registrant is not required to indemnify any person (1) for any action, suit or proceeding initiated by such person, unless the action suit or proceeding was authorized by the Registrant's board of directors; (2) for settlement amounts unless the Registrant consented to the settlement; (3) for judicial awards if the Registrant did not have an opportunity to participate, at its own expense, in the defense of the action, or (4) if the authorized representative has otherwise received payment for the amounts that would have been indemnifiable. Article VII also provides for the advancement of expenses to an indemnified party upon receipt of an undertaking by the party to repay those amounts if it is finally determined that the indemnified party is not entitled to indemnification. Article VII further permits the Registrant to maintain insurance on behalf of any person who is or was a director, officer,

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employee or agent of the Registrant, or is or was serving at the request of the Registrant as a director, officer, employee or agent of another entity, against any liability asserted against such person and incurred by such person in any such capacity or arising out of his status as such, whether or not the Registrant would have the power to indemnify such person against such liability under the DGCL. Section 145 also provides that the aforesaid power to indemnify directors and officers may not be impaired by an amendment to the provision after the occurrence of the act or omission that is the subject of an action, suit or proceeding for which indemnification or advancement of expenses is sought, unless the provision in effect at the time of the act or omission explicitly authorizes the impairment.

The Registrant's directors and officers are covered by insurance policies indemnifying them against certain liabilities, including certain liabilities arising under the Securities Act, which might be incurred by them in such capacities and against which they cannot be indemnified by the Registrant.

The Registrant has entered into indemnification agreements (each, an "Indemnification Agreement") with each of its directors and executive officers (each, an "Indemnitee"). Each Indemnification Agreement provides contractual indemnification, expense advancement, and other related rights to the Indemnitees in accordance with the laws of the state of Delaware. The Indemnification Agreements are primarily designed to codify existing protections under the Registrant's articles of incorporation and by-laws and under Delaware law into individual contracts and to provide additional procedural protections for Indemnitees; they do not mandate indemnification of Registrant officials for acts that the Registrant was not previously required to indemnify.

Each Indemnification Agreement obligates the Registrant to indemnify the Indemnitee, to the fullest extent permitted by Delaware law, against all Indemnifiable Claims and Indemnifiable Losses (as those terms are defined in the Indemnification Agreement). Each Indemnification Agreement also provides the Indemnitee with certain rights to advancement of expenses relating to any Indemnifiable Claim paid or incurred, or reasonably likely to be paid or incurred, by the Indemnitee. Further, under each Indemnification Agreement, the Indemnitee is presumed to have satisfied the applicable standard of conduct under Delaware law required for indemnification, and the Registrant may overcome that presumption with clear and convincing evidence to the contrary.

**Item 7.** **Exemption from Registration Claimed.** <br>

Not applicable.

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**Item 8.** **Exhibits.** <br>

The following is a list of exhibits filed as part of this Registration Statement.

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| | |
|:---|:---|
| Exhibit<br>Number | Exhibit |
| &nbsp;&nbsp;&nbsp;&nbsp;4.1 | [Radian Group Inc. 2026 Equity Compensation Plan (incorporated by reference to Appendix A to the Registrant's Definitive Proxy Statement on Schedule 14A (file no. 001-11356) filed on April 2, 2026 for the 2026 Annual Meeting of Stockholders)](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/890926/000119312526140155/rdn-20260401.htm#appendix_a) |
| \*4.2 | [Radian Group Inc. 2026 Equity Compensation Plan; Radian Group Inc. Employee Stock Purchase Plan Sub-Plan for U.K. Employees](d227995dex42.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.3 | [Radian Group Inc. 2021 Equity Compensation Plan (incorporated by reference to Appendix A to the Registrant's Definitive Proxy Statement on Schedule 14A (file no. 1-11356) filed on April 9, 2021 for the 2021 Annual Meeting of Stockholders)](http://www.sec.gov/Archives/edgar/data/890926/000089092621000029/radianproxy2021.htm#i312069c10f8b48788c3f16fbff6bd922_2077) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.4 | [Radian Group Inc. 2021 Equity Compensation Sub-Plan for U.K. Employees (incorporated by reference to Exhibit 10.2 to the Registrant's Current Report on Form 8-K (file no. 1-11356) dated February 2, 2026, and filed on February 3, 2026)](http://www.sec.gov/Archives/edgar/data/890926/000119312526035665/d47949dex102.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.5 | [Third Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (file no. 1-11356) dated May 11, 2004, and filed on May 12, 2004)](http://www.sec.gov/Archives/edgar/data/890926/000119312504086126/dex31.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.6 | [Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (file no. 1-11356) dated May 22, 2008, and filed on May 29, 2008)](http://www.sec.gov/Archives/edgar/data/890926/000119312508124149/dex31.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.7 | [Second Amendment to the Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (file no. 1-11356) dated May 12, 2010, and filed on May 18, 2010)](http://www.sec.gov/Archives/edgar/data/890926/000119312510123426/dex31.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.8 | [Certificate of Amendment of Certificate of Incorporation of the Registrant effective as of May 15, 2013 (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (file no. 1-11356) dated May 14, 2013, and filed on May 20, 2013)](http://www.sec.gov/Archives/edgar/data/890926/000119312513227864/d541233dex31.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.9 | [Certificate of Amendment of the Amended and Restated Certificate of Incorporation of the Registrant effective as of May 11, 2016 (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (file no. 1-11356) dated May 11, 2016, and filed on May 17, 2016)](http://www.sec.gov/Archives/edgar/data/890926/000115752316005645/a51344192ex3_1.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.10 | [Certificate of Change of Registered Agent and Registered Office of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (file no. 1-11356) dated November 15, 2010, and filed on November 16, 2010)](http://www.sec.gov/Archives/edgar/data/890926/000119312510262059/dex31.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.11 | [Certificate of Designation of Series A Junior Participating Preferred Stock (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (file no. 1-11356) dated October 9, 2009, and filed on October 13, 2009)](http://www.sec.gov/Archives/edgar/data/890926/000119312509207068/dex31.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.12 | [Certificate of Elimination of the Series A Junior Participating Preferred Stock of the Registrant (incorporated by reference to Exhibit 3.3 to the Registrant's Current Report on Form 8-K (file no. 1-11356) dated March 19, 2019, and filed on March 19, 2019)](http://www.sec.gov/Archives/edgar/data/890926/000119312519079640/d719770dex33.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13 | [Fourth Amended and Restated By-laws of Radian Group, Inc., effective September 17, 2025 (incorporated by reference to Exhibit 3.1 of the Registrant's Current Report on Form 8- K (file no. 1-11356) dated September 18, 2025, and filed on September 18, 2025)](http://www.sec.gov/Archives/edgar/data/890926/000119312525206774/d945088dex31.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.14 | [Specimen certificate for Common Stock (incorporated by reference to Exhibit 4.1 to the Registrant's Annual Report on Form 10-K (file no. 1-11356) for the year ended December 31, 1999)](http://www.sec.gov/Archives/edgar/data/890926/000089322000000400/0000893220-00-000400.txt) |
| \*5.1 | [Opinion of Faegre Drinker Biddle & Reath LLP.](d227995dex51.htm) |

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| | |
|:---|:---|
| \*23.1 | [Consent of PricewaterhouseCoopers LLP.](d227995dex231.htm) |
| \*23.2 | [Consent of KPMG LLP.](d227995dex232.htm) |
| \*23.3 | [Consent of Faegre Drinker Biddle & Reath LLP (included within Exhibit 5.1).](d227995dex51.htm) |
| \*24.1 | [Power of Attorney (included with signature page).](d227995ds8.htm#sig) |
| \*107 | [Filing Fee Table](d227995dexfilingfees.htm) |

---

\* Filed herewith.

**Item 9.** **Undertakings.** <br>

(a) The undersigned Registrant hereby undertakes:

(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;

(ii) To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) of the Securities Act if, in the aggregate, the changes in volume and price represent No more than a 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement; and

(iii) To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement;

*provided, however,* that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.

(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

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**SIGNATURES** 

Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all the requirements for filing on Form S-8 and has duly caused this Registration Statement on Form S-8 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Philadelphia, Commonwealth of Pennsylvania on May 21, 2026.

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| | |
|:---|:---|
| RADIAN GROUP INC. | RADIAN GROUP INC. |
| By: | /s/ Richard G. Thornberry |
|  | Name: Richard G. Thornberry |
|  | Title: Chief Executive Officer |

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**POWER OF ATTORNEY** 

Pursuant to the requirements of the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement on Form S-8 has been signed below by the following persons in the capacities and on the dates indicated.

Each person in so signing also makes, constitutes and appoints Richard G. Thornberry, Edward J. Hoffman, Daniel Kobell and Elizabeth A. Diffley, and each of them acting alone, his or her true and lawful attorney-in-fact, with full power of substitution, to do any and all acts and things in his or her name and on his or her behalf in his or her capacity as a director and/or officer and to execute any and all documents for him or her in such capacity, which said attorneys and agents, or any of them, may deem necessary or advisable to enable the Registrant to comply with the Securities Act, and any rules, regulations and requirements of the Securities and Exchange Commission (the "Commission") in connection with this registration statement, including, without limitation, the execution and filing with the Commission of any and all amendments and post-effective amendments to this registration statement, with exhibits thereto and other documents in connection therewith, and hereby ratifies and confirms all that said attorney-in-fact or his substitute or substitutes may do or cause to be done by virtue hereof.

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| | | |
|:---|:---|:---|
| Signature | Title | Date |
| /s/ Richard G. Thornberry<br> Richard G. Thornberry | Chief Executive Officer and Director (Principal Executive Officer) | May 21, 2026 |
| /s/ Daniel Kobell | Senior Executive Vice President, Interim Chief Financial Officer (Principal Financial Officer) | May 21, 2026 |
| Daniel Kobell | Senior Executive Vice President, Interim Chief Financial Officer (Principal Financial Officer) | May 21, 2026 |
| /s/ Robert J. Quigley<br> Robert J. Quigley | Senior Executive Vice President, Controller and Chief Accounting Officer (Principal Accounting Officer) | May 21, 2026 |
| /s/ Howard B. Culang | Non-Executive Chair of the Board | May 21, 2026 |
| Howard B. Culang | Non-Executive Chair of the Board | May 21, 2026 |
| /s/ Fawad Ahmad | Director | May 21, 2026 |
| Fawad Ahmad | Director | May 21, 2026 |
| /s/ Brad L. Conner | Director | May 21, 2026 |
| Brad L. Conner |  |  |

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| | | |
|:---|:---|:---|
| /s/ Debra Hess<br> Debra Hess | Director | May 21, 2026 |
| /s/ Anne Leyden<br> Anne Leyden | Director | May 21, 2026 |
| /s/ Seraina Macia<br> Seraina Macia | Director | May 21, 2026 |
| /s/ Brian D. Montgomery<br> Brian D. Montgomery | Director | May 21, 2026 |
| /s/ Lisa Mumford<br> Lisa Mumford | Director | May 21, 2026 |
| /s/ Jed Rhoads<br> Jed Rhoads | Director | May 21, 2026 |
| /s/ Noel J. Spiegel<br> Noel. J. Spiegel | Director | May 21, 2026 |

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## Exhibit 4.2

**Exhibit 4.2** 

**RADIAN GROUP INC.** 

**2026 EQUITY COMPENSATION PLAN (THE "<u>2026 EQUITY PLAN")</u>**

**RADIAN GROUP INC EMPLOYEE STOCK PURCHASE PLAN (THE "<u>ESPP</u>")** 

**SUB-PLAN FOR U.K. EMPLOYEES (THE "<u>SUB-PLAN</u>")** 

This Sub-Plan is a sub-plan of each of the 2026 Equity Plan and the ESPP (each referred to herein as a "<u>Plan</u>") and has been created and approved in accordance with the provisions of Section 19 of the 2026 Equity Plan and Section 14 of the ESPP, respectively. Terms defined in the applicable Plan shall have the same meanings in this Sub-Plan unless otherwise defined in this Sub-Plan.

**SECTION 1 Definitions.** As used in this Sub-Plan and/or any Grant Letter under this Sub-Plan, the following terms shall have the meanings set forth below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "<u>Employer</u>" means, in relation to the Grantee, Radian and/or any relevant employer that is a "secondary contributor" in respect of Employer's NICs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "<u>Employer's NICs</u>" means the amount of secondary Class 1 national insurance contributions payable in respect of any Grant or any award of Common Stock in connection therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "<u>FPO</u>" means the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 of the United Kingdom (as may be amended from time to time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "<u>FSMA</u>" means the Financial Services and Markets Act 2000 of the United Kingdom (as may be amended from time to time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "<u>Grant</u>" means, as applicable, an award of incentives under the 2026 Equity Plan with respect to the 2026 Equity Plan or an option to purchase the shares of Radian's Common Stock under the ESPP with respect to the ESPP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "<u>Group</u>" has the meaning given to that term under FSMA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) "<u>U.K. Employee</u>" means an employee or former employee of Radian or of any Subsidiary (provided that such Subsidiary is a member of Radian's Group) who is resident in, or is primarily employed in, the United Kingdom.

**SECTION 2 Purpose.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The purpose of this Sub-Plan is primarily to establish a sub-plan under the auspices of each Plan that will apply to Grants to be made to U.K. Employees. As a result:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) All Grants to U.K. Employees shall be made under this Sub-Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) No Grants shall be made under this Sub-Plan to any person other than a U.K. Employee, and this Sub-Plan shall not apply to any Grants made under each Plan to any such other person; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Section 5 of the 2026 Equity Plan and Section 3 of the ESPP, respectively, shall be deemed amended accordingly insofar as it applies to this Sub-Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The provisions of the Sub-Plan vary from those applicable under each Plan so as to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) enable the Sub-Plan (and any Grants made or proposed to be made under the Sub-Plan, and communications concerning those Grants) to take advantage of certain exemptions available in the United Kingdom from certain prohibitions and restrictions which might otherwise apply to such grants and communications in the United Kingdom under the regulatory regime established under FSMA; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) take account of United Kingdom tax treatment of the Grants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No Grant shall be granted under this Sub-Plan unless such Grant relates to a type of investment set out or referred to in Article 60(1) of the FPO. Section 2 of the 2026 Equity Plan and Section 7 of the ESPP, respectively, shall be deemed amended or supplemented accordingly insofar as it applies to this Sub-Plan.

**SECTION 3 Interaction with the Plan.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Sub-Plan should be read in conjunction with the applicable Plan and is subject to the terms and conditions of such Plan except to the extent that the terms and conditions of the applicable Plan differ from or conflict with the terms set out in this Sub-Plan, in which event, the terms set out in this Sub-Plan shall prevail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to the other provisions of this Sub-Plan, the provisions of the applicable Plan will apply to this Sub-Plan as if references therein to the applicable Plan were references to this Sub-Plan.

**SECTION 4 Taxes** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Section 16(a) of the 2026 Equity Plan shall not apply to this Sub-Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All Grants under this Sub-Plan shall be subject to applicable United Kingdom taxes and national insurance contributions (and any other charges of a similar nature). As a condition to the issuance, vesting, exercise or settlement of any Grant, the Grantee shall be required to pay to Radian or any relevant Subsidiary that employs the Grantee, or make other arrangements satisfactory to Radian or the relevant Subsidiary to provide for the payment of, any national, federal, state or local taxes, social security contributions, national insurance contributions and/or other charges of a similar nature ("<u>Employment Taxes</u>") that Radian or the relevant Subsidiary is required to withhold, or in respect of which Radian or the relevant Subsidiary is required to account to any tax authority including HM Revenue & Customs ("<u>HMRC</u>"), with respect to any income or capital gains arising or deemed to arise to the Grantee in connection with any Grant (including for the avoidance of doubt in connection with the vesting, holding or disposal of any Common Stock received pursuant to any Grant). The Committee, in its discretion, may permit the satisfaction of such Employment Taxes by having Common Stock withheld from delivery with respect to any Grant up to a value that does not exceed the relevant required amount of Employment Taxes; provided that if the liability for such Employment Taxes is satisfied by withholding Common Stock to be delivered upon settlement of any Grant, for tax purposes, the Grantee is deemed to have been issued the full number of shares of Common Stock subject to such Grant, notwithstanding that a number of shares of Common Stock are withheld for the purposes of paying Employment Taxes. Radian or the relevant Subsidiary is authorised to withhold from any Grant made, any payment relating to a Grant under this Sub-Plan, including from a distribution of Common Stock, or any payroll or other payment to a Grantee, the amount of required Employment Taxes due or potentially payable in connection with any transaction involving a Grant under this Sub-Plan to the maximum extent permitted by applicable law and regulation (as amended from time to time). To the extent any amount is withheld by Radian in accordance with this section, such amount shall either be remitted to the relevant Subsidiary on behalf of the Grantee, or deemed to have been so remitted where the amount is paid to a relevant tax authority on behalf of such relevant Subsidiary.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Grantee may be required as a condition precedent to acquiring any Common Stock or exercising any Stock Option or SAR to enter into a joint election under Section 431(1) of the United Kingdom Income Tax (Earnings and Pensions) Act 2003 for the full disapplication of Chapter 2 of Part 7 of that Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In accepting any Grant, the Grantee shall, if so required by Radian and to the extent lawful:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) agree with and undertake to the Employer that the Employer may recover from the Grantee the whole or part of any Employer's NICs; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) enter into any election or agreement (including, without limitation, a joint election of the type referred to in paragraph 3B of Schedule 1 to the Social Security Contributions and Benefits Act 1992) for the whole or part of any liability for Employer's NICs to be transferred to the Grantee.

**SECTION 5 Transferability of Options and SARs.** Section 10(b) of the 2026 Equity Plan (and any references thereto) shall not apply to this Sub-Plan (or any Grants made under this Sub-Plan).

**SECTION 6 General.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Sub-Plan, and any Grants granted hereunder, shall be governed, construed and administered in accordance with the laws of the State of Delaware, without reference to its conflict of laws provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All Grants are subject to applicable law and regulation (as amended from time to time). For Grantees identified as Material Risk Takers under Solvency UK (or Solvency II, if applicable) regulations, all Grants made under this Sub-Plan will be subject to specific risk-alignment mechanisms, including applicable performance-based vesting conditions and malus/clawback provisions consistent with Article 275 of the Solvency II Regulation and the Prudential Regulatory Authority's Supervisory Statement SS10/16 (as amended from time to time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The terms and conditions provided in this Sub-Plan are severable and if (despite the provisions of Section 6(a) of this Sub-Plan) any one or more provisions (or the effect of any such provision) are determined to be illegal or otherwise unenforceable under any applicable law, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable.

## Exhibit 5.1

**Exhibit 5.1**![LOGO](g227995snap3.jpg)

Faegre Drinker Biddle & Reath LLP

One Logan Square, Ste. 2000

Philadelphia, Pennsylvania 19103-6996

+1 215 988 2700 main

+1 215 988 2757 fax

May 21, 2026

Radian Group Inc.

500 East Swedesford Road, Suite 350

Wayne, Pennsylvania, 19087

**Re: Registration Statement on Form S-8** 

**Radian Group Inc. 2026 Equity Compensation Plan** 

Ladies and Gentlemen:

We have acted as counsel to Radian Group Inc., a Delaware corporation (the "<u>Company</u>"), in connection with the preparation and filing with the Securities and Exchange Commission (the "<u>Commission</u>") of a Registration Statement on Form S-8 (the "<u>Registration Statement</u>") by the Company under the Securities Act of 1933, as amended (the "<u>Securities Act</u>"). The Registration Statement registers the offer and sale of up to 7,995,047 shares (the "<u>Shares</u>") of the Company's common stock, par value $0.001 per share (the "<u>Common Stock</u>"), issuable pursuant to the Radian Group Inc. 2026 Equity Compensation Plan (the "<u>2026 Equity Plan</u>").

For purposes of this opinion letter, we have examined the Third Amended and Restated Certificate of Incorporation and the Fourth Amended and Restated By-Laws of the Company, each as currently in effect, the Registration Statement, the 2026 Equity Plan, the Radian Group Inc. 2021 Equity Compensation Plan, and the resolutions of the board of directors of the Company (the "<u>Board</u>") authorizing the 2026 Equity Plan and the issuance of the Shares. We have also examined a certificate of the Secretary of the Company dated the date hereof (the "<u>Certificate</u>") and originals, or copies certified or otherwise authenticated to our satisfaction, of such corporate records and other records, agreements, instruments, certificates of public officials and documents as we have deemed necessary as a basis for the opinions hereinafter expressed and have reviewed such matters of law as we have deemed relevant hereto. As to all issues of fact material to this opinion letter, we have relied on certificates, statements or representations of public officials, of officers and other representatives of the Company (including the Certificate) and of others, without any independent verification thereof.

In rendering the opinion set forth below, we have assumed, without independent verification or investigation thereof: (i) the legal capacity of all natural persons; (ii) the genuineness of all signatures, including electronic signatures; (iii) the authenticity of all documents submitted to us as originals; (iv) the conformity to original documents of all documents submitted to us as copies; (v) the authenticity of the originals of such latter documents; (vi) the truth, accuracy and completeness of the information, representations and warranties contained in the agreements, documents, instruments, certificates and records we have reviewed; and (vii) the absence of any undisclosed modifications to the agreements and instruments reviewed by us.

Based upon such examination and review, and subject to the foregoing and the other qualifications, assumptions and limitations set forth herein, it is our opinion that all necessary corporate action on the part of the Company has been taken to authorize the issuance and sale of the Shares to be issued in accordance with the 2026 Equity Plan, and that, when (a) the Shares have been issued and delivered as contemplated in the Registration Statement and the related prospectus and in accordance with the 2026 Equity Plan and the terms of any applicable award agreement, and (b) where applicable, the consideration for the Shares specified in the 2026 Equity Plan and any applicable award agreement has been received by the Company, the Shares will be validly issued, fully paid and nonassessable.

------

We do not express any opinion herein with respect to the laws of any jurisdiction other than, subject to the limitations and assumptions contained herein, the General Corporation Law of the State of Delaware.

This opinion letter speaks only as of the date the Registration Statement becomes effective under the Securities Act, and we assume no obligation to revise or supplement this opinion letter thereafter. This opinion letter is limited to the specific issues addressed herein, and no opinion may be inferred or implied beyond that expressly stated herein.

We hereby consent to the filing of this opinion letter as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission thereunder.

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| |
|:---|
| Very truly yours, |
| /s/ Faegre Drinker Biddle & Reath LLP |
| FAEGRE DRINKER BIDDLE & REATH LLP |

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## Exhibit 23.1

**Exhibit 23.1** 

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** 

We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of Radian Group Inc. of our report dated February 20, 2026 relating to the financial statements, financial statement schedules and the effectiveness of internal control over financial reporting, which appears in Radian Group Inc.'s Annual Report on Form 10-K for the year ended December 31, 2025.

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| |
|:---|
| /s/ PricewaterhouseCoopers LLP |
| Charlotte, North Carolina |
| May 21, 2026 |

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## Exhibit 23.2

**Exhibit 23.2** 

**CONSENT OF INDEPENDENT AUDITORS** 

We consent to the use of our report dated April 16, 2026, with respect to the consolidated financial statements of Inigo Limited, which report appears in the Form 8-K/A of Radian Group Inc. dated April 17, 2026 incorporated herein by reference.

/s/ KPMG LLP

London, England

May 21, 2026

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

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| |
|:---|
| **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;**S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;**RADIAN GROUP INC**  |

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Security Type**  | **Security Class Title**  | **Fee Calculation Rule**  | **Amount Registered**  | **Proposed Maximum Offering Price Per Unit**  | **Maximum Aggregate Offering Price**  | **Fee Rate**  | **Amount of Registration Fee**  |
| 1 | Equity | Common Stock, par value $0.001 per share, reserved for issuance under the Company's 2026 Equity Compensation Plan | Other | 7995047 | $37.035 | $296096565.65 | 0.0001381 | $40890.94 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $296096565.65  |  | $40890.94  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $40890.94  |

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 **Offering Note** <br>

<sup>1</sup> (1) Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement shall also cover any additional shares of the Registrant's common stock, par value $0.001 per share (the "Common Stock") that become issuable under the 2026 Equity Compensation Plan (the "2026 Equity Plan") by reason of any stock dividend, stock split, recapitalization or other similar transaction pursuant to the anti-dilution provisions of the 2026 Equity Plan. (2) Represents 7,995,047 shares of Common Stock reserved for future issuance under the 2026 Equity Plan. (3) Estimated in accordance with Rule 457(c) and (h) of the Securities Act. Such computation is based on the average of the high and low prices as reported on the New York Stock Exchange on May 15, 2026.

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| |
|:---|
| |
| **Rule 457(p)** |
| Fee Offset Claims |
| Fee Offset Sources |

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