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): August 7, 2023
 
 
Radian Group Inc.
(Exact Name of Registrant as Specified in its Charter)

 
Delaware
 
001-11356
 
23-2691170
(State or Other Jurisdiction
of Incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)

 
 
550 East Swedesford Road, Suite 350
Wayne, Pennsylvania, 19087
(Address of Principal Executive Offices, and Zip Code)

(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))
 
Securities registered pursuant to Section 12(b) of the Act:

Title of each class
  
Trading Symbol(s)
  
Name of each exchange on which registered
Common Stock, $0.001 par value per share
   RDN
   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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 13(a) of the Exchange Act. ☐



Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of Directors
 
As previously announced, on August 7, 2023, upon the recommendation of the Governance Committee of the board of directors (the “Board”) of Radian Group Inc. (the “Company”), the Board increased the size of the Board from eleven to twelve directors and appointed a new director, Anne Leyden, to the Board.
 
Ms. Leyden, 62, is a senior human resources executive with broad-based business leadership experience in the financial services and consumer credit sectors. From 2014 until 2021, Ms. Leyden served as Executive Vice President, Chief Human Resources Officer for TransUnion, a consumer credit reporting agency and a leading global information and insights company operating in 30 countries. Prior to joining TransUnion, from 1994 to 2012, Ms. Leyden spent 18 years in various roles with JP Morgan Chase (“JP Morgan”) and Bank One (before its acquisition by JP Morgan), including as Senior Vice President and Head of Human Resources for JP Morgan’s Retail Financial Services division, which included its nationwide Mortgage, Retail Banking, Auto and other Consumer Lending organizations. Following her retirement from TransUnion, Ms. Leyden has been providing a range of human capital management advisory services to various companies.
 
In joining the Board, Ms. Leyden brings recent executive level experience in human capital management in large publicly traded global information and financial institutions, including experience in succession planning, integration of strategic acquisitions and the development of operating models. In addition, her executive management experience with companies operating in the mortgage, consumer lending and other financial services industries provide her with valuable knowledge and insights about the industries in which we operate. This skill set and experience is highly valuable to our Company and will complement our Board’s existing expertise, as we further our commitment to maximizing talent within our organization in support of our strategic objectives.
 
There is no arrangement or understanding between Ms. Leyden and any other person pursuant to which she was appointed as director. Ms. Leyden does not have a direct or indirect material interest in any transaction in which the Company is or will be a participant.
 
Item 7.01
Regulation FD Disclosure.
 
The Company’s news release announcing the appointment of Ms. Leyden to the Company’s Board is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
 
Item 9.01.
Financial Statements and Exhibits.

(d) Exhibits.

  99.1*
 
Exhibit 104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
____________________
∗
Furnished herewith.
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.
 
 
 
RADIAN GROUP INC.
 
(Registrant)
 
 
 
 
Date: August 9, 2023
 
 
 
 
 
 
By: /s/ Edward J. Hoffman
 
Edward J. Hoffman
 
 General Counsel and Corporate Secretary


Exhibit 99.1


Radian Appoints Anne Leyden to Board of Directors

WAYNE, Pa.--(BUSINESS WIRE)--August 7, 2023--Radian Group Inc. (NYSE:RDN) today announced that Anne Leyden has been appointed to serve on its Board of Directors. Anne is a senior human capital management executive with broad consumer and business-to-business leadership experience in the financial services and consumer credit sectors.

“Anne is an extremely talented leader and strategist, and we are very pleased to welcome her to the Radian Board,” said Radian Board Chairman Howard B. Culang. “Throughout her career, Anne has demonstrated an impressive ability for developing high-performing teams, processes and strategies, and we look forward to benefiting from her expertise as we continue to build long-term stockholder value.”

“From forward-thinking People policy development to successful approaches for growing businesses and acquisition integration, Anne brings a valuable array of skills and experience that will complement our Board’s existing expertise during this exciting phase for the company,” said Radian Chief Executive Officer Rick Thornberry. “Our People are the Difference is a core value for Radian and our thoughtful and independent Board is deeply committed to ensuring that we support and maximize our talent in the pursuit of our mission to provide affordable, sustainable and equitable homeownership – and we know Anne will help us do even more to further that objective.”

About Anne Leyden

Anne Leyden, 62, served from 2014 until 2021 as Executive Vice President, Chief Human Resources Officer for TransUnion (NYSE:TRU), a consumer credit reporting agency and a global information and insights company operating in 30 countries with more than $3 billion in annual revenues. During her tenure, she built and executed the talent, leadership, culture, and employee engagement strategies that supported the company through its IPO and a period of growth that saw its revenues and employee population double. Working with the Board, Leyden established executive compensation programs and succession planning processes. She also introduced leadership development programming, DEI strategies and reporting, and supported the integration of strategic acquisitions and the evolution of the global operating model.

Prior to joining TransUnion, Leyden spent 18 years in various roles at JPMorgan Chase (NYSE:JPM) and Bank One (before its acquisition by JPMorgan Chase), including as Senior Vice President and Head of HR for JPMorgan’s Retail Financial Services division, which included its nationwide Mortgage, Retail Banking, Auto and other Consumer Lending organizations. During her HR leadership tenure, the retail organization grew to include nearly 122,000 employees and generated more than $30 billion in revenues.

Leyden earned a bachelor’s degree in Human Development from Colorado State University, where she graduated Phi Beta Kappa.

About Radian

Radian Group Inc. (NYSE: RDN) is ensuring the American dream of homeownership responsibly and sustainably through products and services that include industry-leading mortgage insurance and a comprehensive suite of mortgage, risk, title, valuation, asset management and other real estate services. We are powered by technology, informed by data and driven to deliver new and better ways to transact and manage risk. Visit radian.comand homegenius.com to learn more about how Radian and its pioneering homegenius platform are building a smarter future for mortgage and real estate services.

Contacts

For Investors:
John Damian - Phone: 215.231.1383
email: john.damian@radian.com

For the Media:
Rashi Iyer - Phone 215.231.1167
email: rashi.iyer@radian.com

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