This excerpt taken from the RDN DEF 14A filed Apr 13, 2009.
2008 Director Compensation
This excerpt taken from the RDN DEF 14A filed Apr 24, 2008.
2007 Director Compensation
This excerpt taken from the RDN DEF 14A filed Apr 25, 2005.
All of our non-employee directors receive an annual fee for their services of $32,500 and an annual grant of phantom stock, awarded under our Equity Compensation Plan, equal to $97,500 based on the closing price of our common stock on the date the annual grant is made. The phantom stock awards vest and are payable in shares of common stock upon departure from the board. Each non-employee director also receives a $2,000 fee for each board meeting attended, a $2,000 fee for each committee meeting attended and a $2,000 fee for each meeting of our independent directors. In addition to the foregoing, our Lead Director (and, going forward, our non-executive Chairman) receives an annual fee of $30,000, the chairperson of the Audit Committee receives an annual fee of $10,000, the chairperson of the Compensation and Human Resources Committee receives an annual fee of $7,500, and the chairpersons of the Executive, Governance, Investment and Credit Committees each receive an annual fee of $5,000. Herbert Wender also received 2,000 shares of phantom stock in 2005 as compensation for his efforts related to Radians CEO transition. Directors who are our employees do not receive additional compensation for their service as directors. Radian requires each director to maintain a minimum direct investment in Radian common stock equal to $350,000, on or before the later of January 1, 2007 or four years from the date that a directors service on the board begins.