Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
Appointment of Directors
On February 13, 2020, 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 to eleven directors and appointed two new directors, Lisa Mumford and Brad Conner, to the Board. There is no arrangement or understanding between either Ms. Mumford or Mr. Conner and any other person pursuant to
which either was appointed as director. Neither Ms. Mumford nor Mr. Conner has a direct or indirect material interest in any transaction in which the Company is or will be a participant.
Lisa Mumford, 56, served as the Chief Financial Officer of Ellington Financial Inc. (NYSE: EFC) and Ellington Financial Management LLC from 2009 through her
retirement in 2018. Ms. Mumford also served as the Chief Financial Officer of Ellington Residential Mortgage REIT (NYSE: EARN) from 2013 until her retirement. Prior to those roles, Ms. Mumford was Senior Managing Director and Chief Accounting Officer
at ACA Capital Holdings, Inc., and was with ACE Guaranty Corp. (formerly Capital Re Corporation) for 15 years, where over her tenure she held the positions of Chief Financial Officer and Controller. Ms. Mumford currently serves on the board of
directors of Ellington Financial Inc. Ms. Mumford is a member of the American Institute of Certified Public Accountants and holds a B.B.A. in Accounting from Hofstra University.
Brad Conner, 58, recently retired as the Vice Chairman of the Consumer Banking Division at Citizens Financial Group Inc. (NYSE: CFG) and a member of
its Executive Committee and Executive Leadership Group. Among other roles, he oversaw the bank’s Home Lending, Retail Banking, Business Banking, Wealth Management, Unsecured Lending, Auto Finance and Education Finance business divisions. Mr. Conner
previously served as President of JP Morgan Chase & Co.’s Home Equity and Mortgage Home Loan Direct business, and ran Chase and Bank One’s combined home equity business after the companies’ 2004 merger. Mr. Conner is a member of the Consumer
Bankers Association’s Board of Directors, and is treasurer of the Board of Trustees of the Dave Thomas Foundation for Adoption. Mr. Conner earned his B.A. and M.B.A. from the University of Arkansas.
Future Departure of Director
In addition, on February 13, 2020, David C. Carney, a director of the Company since 1992, announced his intention to retire from the Board at the end of his
current term, which will occur at the Company’s 2020 annual meeting of stockholders scheduled for May 13, 2020 (the “2020 Annual Meeting”). In light of Mr. Carney’s announcement, on February 13, 2020, upon the recommendation of the Governance
Committee of the Board, the Board approved a reduction of the size of the Board to ten directors, effective upon Mr. Carney’s retirement at the 2020 Annual Meeting.