This overview covers recent developments in the theory of runaway electrons in tokamaks. Its main purpose is to outline the intuitive basis for first-principle advancements in runaway electron physics. The overview highlights the following physics aspects of the runaway evolution: (1) survival and acceleration of initially hot electrons during thermal quench, (2) effect of magnetic perturbations on runaway confinement, (3) multiplication of the runaways via knock-on collisions with the bulk electrons, (4) slow decay of the runaway current, and (5) runaway-driven micro-instabilities. The scope of the reported studies is governed by the need to understand the behavior of runaway electrons as an essential physics element of the disruption events in ITER in order to develop an effective runaway mitigation scheme.