FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

CULANG HOWARD BERNARD
2. Issuer Name and Ticker or Trading Symbol

RADIAN GROUP INC [ RDN ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

1601 MARKET STREET
3. Date of Earliest Transaction (MM/DD/YYYY)

6/3/2010
(Street)

PHILADELPHIA, PA 19103
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common stock                  0   D  
 

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
restricted stock unit   $0                      (5)   (5) common stock   11036     11036   (4) (5) D  
 
restricted stock unit     (4)                    (5)   (5) common stock   42910     42910   D  
 
Phantom Stock Unit   $0   (2)                  8/7/2015   8/7/2015   Common Stock   46370     46370   D  
 
Phantom Stock Unit   $0   (2)                  2/5/2017   2/5/2017   common stock   1890     1890   D  
 
dividend equivalent rights   $0   (2) 6/3/2010     A      14.2145       3/4/2019   (3) 3/4/2019   (3) common stock   14.2145   (3)   (1) 472.4439   (3) D  
 
phantom stock unit   $0   (2)                  2/7/2016   2/7/2016   common stock   2052     2052   D  
 
phantom stock unit   $0   (2)                  2/8/2015   2/8/2015   common stock   2015     2015   D  
 
phantom stock unit   $0   (2)                  2/10/2014   2/10/2014   common stock   2122     2122   D  
 
stock option   $35.79                    1/30/2004   1/30/2013   common stock   2400     2400   D  
 
phantom Stock Unit   $0   (2)                  1/30/2013   1/30/2013   common stock   800     800   D  
 
stock option   $21.0313                    1/18/2001   1/18/2010   common stock   2400     2400   D  
 
Phantom Stock Unit   $0   (2)                  12/17/2009   12/17/2009   common stock   800     800   D  
 
Phantom Stock Unit   $0   (2)                  12/5/2010   12/5/2010   common stock   800     800   D  
 
stock option   $27.1875                    1/22/2002   1/22/2011   common stock   2400     2400   D  
 
stock option   $35.81                    11/6/2002   11/6/2011   common stock   2400     2400   D  
 
Phantom Stock Unit   $0   (2)                  11/6/2011   11/6/2011   common stock   800     800   D  
 

Explanation of Responses:
( 1)  n/a
( 2)  1-for-1
( 3)  Dividend equivalents accrued on unvested Phantom Stock Units. Dividend equivalents reported herein are related to various Phantom Stock Units outstanding.
( 4)  Each RSU represents a contingent right to receive a cash settlement equal to the value of one share of common stock for each restricted stock unit.
( 5)  RSU's are paid in cash at the time of retirement from the board of directors.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
CULANG HOWARD BERNARD
1601 MARKET STREET
PHILADELPHIA, PA 19103
X



Signatures
/s/ C. Robert Quint, C. Robert Quint (POA) Atty-in-fact 6/4/2010
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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