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ONITY GROUP INC. — Director's Dealing 2016
Jun 8, 2016
33237_dirs_2016-06-08_a3ce0afc-c27c-492d-923f-dcff8c3ab3b8.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: OCWEN FINANCIAL CORP (OCN)
CIK: 0000873860
Period of Report: 2016-06-06
Reporting Person: ERBEY WILLIAM C (10% Owner)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2016-05-25 | Common Stock | J | 1000000 | — | Disposed | 1000000 | Indirect |
| 2016-05-25 | Common Stock | J | 1000000 | — | Acquired | 9020852 | Indirect |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2015-12-18 | Call Options (obligation to sell) | $12.1562 | E | 1 | Disposed | 2015-12-18 | Common Stock (2500000) | Indirect |
| 2016-05-20 | Call Options (obligation to sell) | $12.1562 | E | 1 | Disposed | 2016-05-20 | Common Stock (500000) | Indirect |
| 2016-05-20 | Call Options (obligation to sell) | $13.1692 | E | 1 | Disposed | 2016-05-20 | Common Stock (500000) | Indirect |
| 2016-06-06 | Call Options (obligation to sell) | $3.00 | S | 30000 | Disposed | 2018-01-19 | Common Stock (3000000) | Indirect |
| 2016-06-06 | Call Options (obligation to sell) | $3.00 | S | 10000 | Disposed | 2018-01-19 | Common Stock (1000000) | Indirect |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 69805 | Direct |
| Common Stock | 5409704 | Indirect |
| Common Stock | 2440000 | Indirect |
Footnotes
F1: On May 25, 2016, 1,000,000 shares of Ocwen Financial Corp ("Ocwen") were transferred from Salt Pond Holdings, LLC ("Salt Pond") to Tribue Limited Partnership, a U.S. Virgin Islands limited partnership ("Tribue"). This change in the form of Mr. Erbey's beneficial ownership did not change his pecuniary interest in the shares of Ocwen.
F2: On December 18, 2015, a call option previously written by Mr. Erbey via his holdings in Salt Pond expired out of the money.
F3: On May 20, 2016, two call options previously written by Mr. Erbey via his holdings in Salt Pond expired out of the money.
F4: Option transaction entered into by Tribue in which Salt Pond (56.2% of which is owned by Mr. Erbey, 24.5% of which is owned by the Frederiksted Trust, a U.S. Virgin Islands Trust, and 19.3% of which is owned by Erbey Holding Corporation, Inc., a corporation wholly-owned by Mr. Erbey) has a 90% preferred limited partner interest and a 9.9% common limited partner interest and Mr. Erbey has a 0.1% general partner interest.