WAYNE, PA — Radian Group Inc. (NYSE: RDN) has granted equity awards to incoming Chief Executive Officer Michael Weinbach as part of his employment agreement, marking a key step in the mortgage insurer’s planned leadership transition.
The company disclosed the awards under a New York Stock Exchange rule that allows equity compensation to be issued as an inducement to employment without prior shareholder approval.
Weinbach joined Radian as CEO-Elect on June 1 and is scheduled to assume the chief executive role and join the company’s board on Aug. 13. He will succeed Rick Thornberry, who plans to retire as CEO at the end of 2026.
The awards include 185,020 performance-based restricted stock units tied to the company’s 2026 long-term incentive program, along with an additional 77,090 performance-based restricted stock units granted as a sign-on award.
Radian also granted Weinbach 150,000 time-based restricted stock units that will vest over three years, subject to continued employment and a requirement that he purchase an equivalent number of company shares by Dec. 31.
The company said Weinbach has already satisfied that requirement by purchasing 170,000 shares of Radian common stock in the open market following his arrival.
Weinbach brings more than three decades of financial services experience to the role. Before joining Radian, he served as president of Mr. Cooper Group. Earlier in his career, he held senior leadership positions at Wells Fargo and JPMorgan Chase, including chief executive roles overseeing consumer and home lending operations.
Radian issued the disclosure pursuant to New York Stock Exchange listing requirements governing employment inducement awards.
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