UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On January 8, 2025, Derek V. Brummer, President, Mortgage Insurance of Radian Group Inc. (the “Company”) provided the Company with notice of his decision to retire from his role and the Company, effective July 3, 2025. Mr. Brummer’s decision to retire is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
On January 10, 2025, the Board of Directors of the Company appointed Sumita Pandit, currently serving as Senior Executive Vice President, Chief Financial Officer of the Company, to the role of President and Chief Financial Officer of the Company, effective upon Mr. Brummer’s retirement from his current role. In her new role, Ms. Pandit will assume responsibility for overseeing all aspects of our mortgage insurance business in addition to her current responsibilities as Chief Financial Officer of the Company.
Ms. Pandit joined the Company in March 2023 as Senior Executive Vice President, Chief Growth Officer and was appointed Senior Executive Vice President, Chief Financial Officer in May 2023. A description of Ms. Pandit’s experience prior to joining the Company is disclosed in the “Executive Officers” section of the Company’s 2024 Proxy Statement as filed with the Securities and Exchange Commission on April 5, 2024.
There are no arrangements or understandings between Ms. Pandit and any other person pursuant to which she was appointed to her new role. Ms. Pandit does not have any familial relationship with any director or other executive officer of the Company or any person nominated or chosen by the Company to become a director or executive officer, and there are no transactions in which Ms. Pandit has an interest requiring disclosure under Item 404(a) of Regulation S-K.
| Item 7.01. | Regulation FD Disclosure. |
On January 13, 2025, the Company issued a press release regarding the matters discussed in Item 5.02 above. The press release is furnished herewith as Exhibit 99.1 and is incorporated by reference into this Item 7.01.
The information furnished with, this report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| 99.1* | Radian Group Inc. News Release dated January 13, 2025 | |
| 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: January 13, 2025 | By: | /s/ Edward J. Hoffman | ||||
| Edward J. Hoffman | ||||||
| General Counsel and Corporate Secretary | ||||||