Radian Group Inc. Notes to Consolidated Financial Statements - (Continued) (h) Under STAT, the accounting standard regarding accounting for derivative instruments and hedging activities is not  applicable, except for changes associated with known credit losses.  Any derivative loss payments that are made are included in  the provision for losses.  (i) Under STAT, the accounting standard regarding accounting for transfers and servicing of financial assets and  extinguishment of liabilities and the accounting standard regarding consolidation of  VIEs are not applicable.  We have an equity compensation plan, the Radian Group Inc. 2008 Equity Compensation Plan (the “2008 Equity Plan”),  pursuant to which we grant equity awards.  The 2008 Equity Plan replaced our prior equity plan, the 1995 Equity Compensation  Plan (the “1995 Equity Plan” and together with the 2008 Equity Plan, the “Equity Plans”). In adopting the 2008 Equity Plan,  we agreed not to grant any new awards under the 1995 Equity Plan.  The last awards granted pursuant to the 1995 Equity Plan  were granted in 2008. All awards granted under the Equity Plans have been in the form of non-qualified stock options,  restricted stock, restricted stock units (“RSUs”), stock appreciation rights (“SARs”) and phantom stock.  The maximum  contractual term for all awards under the Equity Plans is  10 years. 17. Share–Based and Other Compensation Programs  The 2008 Equity Plan authorizes the issuance of up to  6,417,000 shares of our common stock, of which there were  1,329,689 shares remaining available for grant as of  December 31, 2012 (the “share reserve”). Each grant of restricted stock,  RSUs, phantom stock or performance share awards under the 2008 Equity Plan (other than those settled in cash) reduces the  reserve available for grant under the 2008 Equity Plan by  1.19 shares for every share subject to such grant ( 1.33 shares for  grants made prior to May 13, 2009 and 1.14 shares for grants made on and after May 13, 2009 and prior to May 1 1, 2011).  Awards under the 2008 Equity Plan that provide for settlement solely in cash (and not common shares) do not count against the  share reserve. Absent this reserve adjustment for restricted stock, RSUs, phantom stock or performance share awards, our  shares remaining available for grant under the 2008 Equity Plan would have been  1,768,249 shares as of December 31, 2012. Unless otherwise described below, awards under the Equity Plans: •  Generally vest 50% on the third and fourth anniversaries of the grant date and require the grantee to remain in  service with us through the vesting period, except in the event of the grantee’ s death, disability, retirement or upon  a change of control. •  Generally vest upon a grantee’s death, disability or retirement. •  For awards granted prior to May 13, 2009, awards vest upon a change of control, defined as: (i) the acquisition by  any third party of the beneficial ownership of  40% or more of our outstanding common stock ( 20% or more of our  outstanding common stock for awards under the 1995 Equity Plan); (ii) the purchase by any third party of  substantially all of our assets; or (iii) during any  24-month period, a change in 75% of the members of the board  of directors with 75% of the prior members of the board of directors not approving such change. •  Beginning in May 2009, awards granted under the 2008 Equity Plan provide for “double trigger” vesting in the  event of a change of control, meaning that awards will vest in connection with a change of control only in the  event the grantee’s employment is terminated by us without cause or the grantee terminates employment for  “good reason,” in each case within 90 days before or one year after the change of control. We estimate that the vesting of awards as a result of a change in control, including “double trigger” vesting in connection  with a change in control as of December 31, 2012, would result in a pre-tax accounting char ge to us of approximately $22.4  million, representing an acceleration of compensation expense. 250