Radian Adds Two New Directors, Expands Share Repurchase Authorization

(RTTNews) - Radian Group Inc. (RDN) announced the addition of two new members to its Board of Directors and the future retirement of one director upon completion of his current term. Debra Hess, former CFO of NorthStar Asset Management Group and NorthStar Realty Finance Corp., and David Stevens, former president and CEO of the Mortgage Bankers Association, have joined the company's Board. Radian also announced that Stephen Hopkins, a director of Radian since 1999, intends to retire from the Board following completion of his current term at the 2019 Annual Meeting of Stockholders.

The company's Board also approved a $150 million increase in authorization for the existing share repurchase plan, for which the full purchase authority of up to $100 million remains available. The expanded authorization is effective immediately and expires on July 31, 2020. Radian said the company plans to utilize a Rule 10b5-1 plan, which would permit it to purchase shares, at pre-determined price targets.