RADIAN GROUP INC

For over 45 years at Radian, our products and services have responsibly helped millions of families achieve their dream of homeownership. This company-wide commitment to affordable, sustainable and equitable homeownership, along with our support of our customers, our employees and the communities where we live and work, defines who we are as an enterprise and aligns with our core organizational values: Deliver the Brand Promise, Innovate for the Future, Create Shareholder Value, Our People are the Difference, Do What’s Right and Partner to Win.

We value our employees by supporting a healthy work-life balance and a team-oriented, “One Radian” environment. We strive to offer competitive compensation and benefits programs as well as career development opportunities, while fostering a community where everyone feels included and empowered to do their best work and is encouraged to give back to their communities to make a social impact. As of December 31, 2023, we had approximately 1,100 employees of Radian Group and its subsidiaries.

Compensation and Benefits Program

Our compensation programs are designed to attract, retain and reward talented individuals from diverse backgrounds who possess the skills and qualities necessary to support our business objectives, demonstrate our values, assist in the achievement of our strategic goals and create long-term value for our stockholders. Our compensation programs include base salary, annual incentive bonuses and, for certain employees, other performance-related cash incentives, such as commissions, and long-term equity incentive awards.

Our annual short-term incentive or bonus program is designed and approved by the Compensation and Human Capital Management Committee of our board of directors to incent achievement of our financial objectives and execution of our strategic plan in alignment with our organizational values. Living our values and advancing our human capital management capabilities are considered as part of our employees’ performance evaluations and are taken into consideration in determining each employee’s annual short-term incentive award.

In addition to our cash and equity compensation programs, we offer eligible employees a comprehensive benefits package, including, among others, life and health (medical, dental and vision) insurance, paid time off, fertility assistance, paid parental leave and caregiver leave, a 401(k) plan with an employer matching contribution and tuition reimbursement. In addition, in order to support our employees and advance our mission to promote affordable, sustainable and equitable homeownership, we offer all eligible employees benefit reimbursements in our Radian mortgage insurance, title and agent referrals programs via our homebuyer perks benefits program.

Table of ContentsGlossaryPart I. Item 1. Business

Diversity, Equity and Inclusion

At Radian, we are committed to an inclusive and diverse workplace, as represented by our Employee Value Promise—We See You at Radian. We believe that an equitable and inclusive environment with diverse teams produces more creative solutions, results in more innovative products and services and is crucial to our efforts to attract and retain key talent.

We have an employee council, the Diversity, Equity and Inclusion (“DEI”) Council, that is sponsored by our CEO, led by senior management and comprised of leaders and employees from across the Company to advance the program and its efforts. In 2020, we created a framework for and launched Radian’s Employee Resource Group (“ERG”) program, which is an important aspect of Radian’s DEI efforts because it not only creates inclusive communities where employees feel support, but it enriches our overall company culture. Radian currently has five active ERGs: TrueColors, which brings together our LGBTQIA+ employees and allies; Women Heard, as our women and women’s advocate group; Vibrant Crossroads, which highlights intersectionality and multiculturalism; Without Limits, which represents our commitment to Neurodiversity inclusion; and Radian Salutes, supporting veterans, military service members, and military dependents.

We are committed to providing equal employment opportunities and promoting inclusive recruiting practices. In 2020, we trained all managers on unconscious bias and, in 2021, we hired a recruiter dedicated to DEI. We annually deploy mandatory DEI training for all employees. We also annually complete pay equity analyses in partnership with an external expert to provide an objective review of our pay practices.

We know that advancing a culture of inclusion takes every single employee. In 2022, we instituted an annual requirement for all employees to include a DEI objective as part of their annual performance goals, which serve as a basis for their short-term incentive award. By focusing all employees on the importance of our DEI efforts, we can continue to advance a culture of inclusion and respect.

At December 31, 2023, women represented 51% of our workforce, 44% of the direct reports to our Chief Executive Officer and 39% of our senior management team comprising officers at the Assistant Vice President level and above.

Talent Development and Employee Engagement

We invest in our people to provide opportunities for professional and career growth. Programs such as our talent development strategy, annual performance reviews that are focused in part on living our company values and succession planning are all important aspects of this investment. These processes help management identify and nurture top talent for leadership opportunities and support the growth and development of knowledge and skills of our employees, managers and leaders.

In order to measure engagement and culture across the organization, we use employee experience surveys. In addition to our experience surveys, we typically use employee pulse surveys and focus groups to gather employee feedback. We communicate the results of these surveys to our employees and incorporate the feedback into our human capital management strategies to ensure that we are being responsive to the needs and views of our employees.

Performance reviews are completed annually to ensure a focus on development of employees along with an assessment of performance and potential, which supports succession planning and informs development efforts across the company to ensure we are continuing to build a deep bench of talent within Radian.

Community Involvement

We understand the value of investing in the communities in which our employees live and work, which is why we continue to strengthen and grow our Corporate Citizenship Program. Since its inception, the program – through both company and employee contributions – has provided significant financial support to charities across the country. The program consists of three pillars: charitable contributions, matching gifts and community connection.

Charitable contributions include donations made by Radian to non-profit organizations, including direct corporate contributions and sponsorship of charitable events. In 2023, we provided financial support to community organizations through direct giving, sponsorships, and fundraisers. This includes our multi-year commitment to support the Mortgage Banker Association’s Opens Doors Foundation. Our matching gifts program includes a charitable contribution made by Radian to non-profit organizations that reflect a donation made by an employee. To strengthen our matching gifts program and continue encouraging the generosity of employees, we launched a Workplace Giving Platform to make giving easier than ever by eliminating the previous multi-step process.

Our community-based program, Radian Connected, provides opportunities for employee engagement and community involvement, including volunteerism and opportunities for learning and skill development, as well as social opportunities to network and build stronger working relationships. We understand the causes employees spend time supporting are near and dear to their hearts, which is why we introduced Dollars-for-Doers, a grant program that recognizes the time employees spend giving back to their communities by giving a charitable gift to the nonprofit of the employee’s choice after they complete 40 hours of service. This program reflects our commitment to making a difference in communities where our employees live and work, and also helps in our efforts to attract and retain employees.