Howard Bernard Culang, Non-Executive Chairman of the Board of Radian Group Inc., filed a Form 4 on September 10, 2026, reporting the acquisition of 503.798 Dividend Equivalent Rights on Phantom Stock Units with a transaction date of September 9, 2026.

Key Highlights

  • Reporting person: Howard Bernard Culang, Director and Non-Executive Chairman of the Board of Radian Group Inc. (NYSE:RDN)
  • Transaction type: Acquisition (Code A) of 503.798 Dividend Equivalent Rights accrued on previously awarded Phantom Stock Units
  • Transaction date: September 9, 2026
  • Price: $0, according to the filing
  • Total Phantom Stock Units held following transaction: 14,669.474, held directly
  • Settlement terms: Awards will be settled in stock upon retirement from the Board of Directors, according to the filing

Culang's Phantom Stock Dividend Equivalents at Radian Group

According to the filing, Howard Bernard Culang, serving as a Director and Non-Executive Chairman of the Board of Radian Group Inc., reported an acquisition of 503.798 Dividend Equivalent Rights on September 9, 2026. The filing indicates these rights were accrued on previously awarded Phantom Stock Units and were recorded at a price of $0.

The filing explains that "dividend equivalents accrued on previously awarded Phantom Stock Units" and that "dividend equivalent rights accrued on phantom stock units will be settled proportionately with the previously granted awards to which they relate." The filing further states that "awards will be settled in stock upon retirement from the Board of Directors." Following this transaction, Culang's total beneficial ownership of Phantom Stock Units, held directly, stands at 14,669.474, according to the filing.

The Form 4 was filed by Elizabeth Diffley, signing as attorney-in-fact under a power of attorney, on September 10, 2026. The transaction is reported under Table II covering derivative securities. No non-derivative securities transactions were reported in Table I of this filing.

What Was Disclosed

Culang's Form 4 disclosed the accrual of 503.798 Dividend Equivalent Rights on Phantom Stock Units at $0, bringing his total directly held Phantom Stock Units to 14,669.474. Settlement in stock is contingent on his retirement from the Board.