UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
Date
of report (Date of earliest event reported) March
8, 2016
Radian Group Inc.
(Exact
Name of Registrant as Specified in Its Charter)
|
Delaware |
1-11356 |
23-2691170 |
|
(State or Other Jurisdiction |
(Commission |
(IRS Employer |
|
1601 Market Street, Philadelphia, Pennsylvania |
19103 |
|
|
(Address of Principal Executive Offices) |
(Zip Code) |
(215) 231 - 1000
(Registrant’s
Telephone Number, Including Area Code)
(Former
Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Item 5.02. |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On March 8, 2016, Radian Group Inc. (the “Company”) terminated the employment of Joseph D’Urso, President, Clayton Holdings LLC (“Clayton”), the Company’s mortgage and real estate services business. Effective with Mr. D’Urso’s departure from Clayton, the Company appointed Jeff Tennyson to serve as interim president of Clayton.
|
Item 7.01. |
Regulation FD Disclosure. |
On March 9, 2016, the Company issued a news release, announcing the appointment of Jeff Tennyson as interim president of Clayton. This news release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information included in, or furnished with, this Item 7.01 of this report shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
|
Item 9.01. |
Financial Statements and Exhibits. |
(d) Exhibits.
99.1* Radian Group Inc. News Release dated March 9, 2016.
_____________________
* Furnished herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
RADIAN GROUP INC. |
|||
| (Registrant) | |||
| Date: | March 9, 2016 | By: |
/s/ Edward J. Hoffman |
|
Edward J. Hoffman |
|||
|
General Counsel and Corporate Secretary |
|||
EXHIBIT INDEX
|
Exhibit No. |
Description |
|
| 99.1* |
Radian Group Inc. News Release dated March 9, 2016. |
|
|
* Furnished herewith. |
||
Exhibit 99.1
Radian Appoints Jeff Tennyson as Interim President of Clayton
PHILADELPHIA--(BUSINESS WIRE)--March 9, 2016--Radian Group Inc. announced today that it has appointed Jeff Tennyson to serve as interim president of Clayton Holdings LLC, Radian’s principal mortgage and real estate services subsidiary, effective immediately. The announcement follows the departure of Joe D’Urso, the company’s former president, also effective immediately.
“Clayton is a leader in its industries and has provided Radian with an excellent opportunity to grow and diversify,” said Radian’s Chief Executive Officer S.A. Ibrahim. “Given Jeff’s deep knowledge of the business, strong customer relationships and support of our talented team, I have great confidence that he will help us continue to achieve our strategic objectives and realize even greater success.”
Radian acquired Clayton, a leading provider of risk-based analytics, residential loan due diligence, consulting, surveillance and valuation solutions, in June 2014. Tennyson, who joined Clayton in February 2015 as chief operating officer, has been responsible for Clayton’s U.S. business units including: Transaction Management, Consulting, Surveillance, Green River Capital and ValuAmerica. In his new role, Tennyson will be responsible for the overall operating results of the company’s business lines.
Tennyson has more than 30 years of experience in the financial services industry. Prior to joining Clayton, he was chief operating officer of B2R Finance, L.P., a specialty finance company of the Blackstone Group that provides mortgage financing for owner/operators of single-family residential rental properties. Prior to B2R, Tennyson was chairman and chief executive officer of Strategic Lending Group and managing director of Strategic Growth Bank. For 12 years, he was also chairman and chief executive officer of EquiFirst Corporation, a national non-agency mortgage lender and subsidiary of Barclays. Tennyson is a Certified Public Accountant and holds a business degree from Harding University and an MBA from Harvard Business School.
ABOUT RADIAN
Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides private mortgage insurance, risk management products and real estate services to financial institutions. Radian offers products and services through two business segments:
Additional information may be found at www.radian.biz.
CONTACT:
Radian Group Inc.
Emily Riley, 215-231-1035
emily.riley@radian.biz