Radian Group eliminates Chief Franchise Officer role; McMahon to separate Sept 13, 2024

RADIAN GROUP INC

McMahon's employment involuntarily terminated without cause, effective Sept 13, 2024.
Entitled to severance pay of $712,500 (1.5x base salary) plus $712,500 lump sum (1.5x STI target).
Prorated STI award of approx $334,452 for 2024.
12-month non-compete and non-solicit after termination.
COBRA benefit and outplacement services included in the agreement.

item 5.02 item 9.01

Executive movements

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Departed

Brien J. McMahon

Senior Executive Vice President and Chief Franchise Officer

RDN · RADIAN GROUP INC

Effective: 2024-09-13
Filed: July 18, 2024, 7:59 PM ET

Brien J. McMahon, Senior Executive Vice President and Chief Franchise Officer of Radian Group Inc. (the “Company”) was notified that his position was being eliminated and that his employment would be involuntarily terminated without cause, effective September 13, 2024

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Brien J. McMahon was terminated as Senior Executive Vice President and Chief Franchise Officer at RADIAN GROUP INC.

Action: terminated
Role: Senior Executive Vice President and Chief Franchise Officer

Exact text from the filing

Brien J. McMahon, Senior Executive Vice President and Chief Franchise Officer of Radian Group Inc. (the “Company”) was notified that his position was being eliminated and that his employment would be involuntarily terminated without cause, effective September 13, 2024

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RADIAN GROUP INC filing history →

Source: SEC EDGAR

accession 0001193125-24-181035

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