Radian Reports Results of 2024 Annual Meeting of Stockholders

Rhea-AI Summary

Radian Group (NYSE: RDN) held its 2024 Annual Meeting of Stockholders, where all eleven directors were re-elected for one-year terms. Gaetano (Guy) J. Muzio retired after his significant contribution since 2012. Stockholders approved all board-recommended proposals, including executive compensation and the appointment of PricewaterhouseCoopers LLP as auditors for 2024. CEO Rick Thornberry highlighted Radian's ongoing commitment to managing mortgage credit risk and expanding access to affordable homeownership.

Positive

• All eleven directors re-elected, ensuring experienced leadership continuity.
• Stockholders approved all board-recommended proposals, indicating strong shareholder support.
• Ratification of PricewaterhouseCoopers LLP as independent auditors for 2024 ensures continued financial oversight.
• CEO emphasized Radian's successful history in managing mortgage credit risk and commitment to affordable homeownership, signaling a positive future outlook.

Negative

• Retirement of experienced director Gaetano (Guy) J. Muzio may lead to a temporary leadership vacuum.
• No new strategic initiatives or financial performance metrics were introduced, offering new information for investors.

WAYNE, Pa.--(BUSINESS WIRE)-- Radian Group Inc. (NYSE: RDN) announced today that its stockholders re-elected all eleven of the company’s directors, who serve one-year terms and are elected annually. As previously disclosed, Gaetano (Guy) J. Muzio, a director of the company since 2012, retired at the end of his current term following today’s 2024 Annual Meeting. Muzio’s retirement comes after a successful tenure where he played a key role in solidifying Radian’s position as a leader in the mortgage and real estate industries.

“Guy’s extensive background in finance and mortgage credit, and his thorough and judicious analysis, have been tremendously valuable for the Board and his work will have a lasting impact on Radian’s future success. All of us are deeply thankful to Guy for his contributions and wish him all the best in the future,” said Howard B. Culang, Non-Executive Chairman of the Board.

In addition to the election of directors, the company’s stockholders approved all other proposals recommended by the Board of Directors and presented for vote at Radian’s 2024 Annual Meeting, including the proposals to approve the compensation of Radian’s named executive officers (“say-on-pay”) and to ratify the appointment of PricewaterhouseCoopers LLP as the company’s independent auditors for 2024.

Chief Executive Officer Rick Thornberry addressed the attendees of Radian’s Annual Meeting by stating, “For more than 45 years, Radian has successfully managed mortgage credit risk through economic cycles and interest rate fluctuations. I am proud of the role we play in the housing market in helping more mortgage-ready borrowers, including historically underserved households, obtain access to affordable mortgage credit. Our team is driven to achieving our mission of expanding access to affordable, responsible, and sustainable homeownership, as well as reducing the friction of homebuying through technology, and I remain excited about our future.”

About Radian

Radian 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, real estate, securitization, and title services. Powered by technology, informed by data, and driven to deliver new and better ways to transact and manage risk, Radian is shaping the future of mortgage and real estate services. Learn more at radian.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240522990294/en/

For Investors:

Dan Kobell - Phone: 215.231.1113

email: daniel.kobell@radian.com

For the Media:

Rashi Iyer - Phone 215.231.1167

email: rashi.iyer@radian.com

Source: Radian Group Inc.

FAQ

What were the results of the 2024 Radian Annual Meeting of Stockholders?

All eleven directors were re-elected, and all board-recommended proposals were approved.

Who retired from the Radian Board of Directors in 2024?

Gaetano (Guy) J. Muzio retired after serving since 2012.

What proposals did Radian stockholders approve in the 2024 Annual Meeting?

Stockholders approved executive compensation and the appointment of PricewaterhouseCoopers LLP as auditors for 2024.

What did CEO Rick Thornberry emphasize at the 2024 Annual Meeting?

CEO Rick Thornberry highlighted Radian's success in managing mortgage credit risk and its commitment to expanding affordable homeownership.