Coating compositions comprising a polymer and an initiator are disclosed. The polymer comprises an alkyd portion and a free radical curable portion that is pendant from the alkyd portion; the alkyd portion includes one or more fatty acid moieties that can be derived from one or more drying, semi-drying or nondrying oils. When drying or semi-drying oils are used, the molecules of the present invention exhibit a dual cure, both oxidative and free radical. The compositions are particularly suitable for coating substrates comprising wood. Methods for using the present compositions are also disclosed.