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ONITY GROUP INC. — Director's Dealing 2017
Mar 31, 2017
33237_dirs_2017-03-31_b469e86d-2dc1-4ca5-9455-1dcd788a836d.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: 2017-03-29
Reporting Person: Bourque Michael R Jr (EVP & Chief Financial Officer)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2017-03-29 | Common Stock | M | 21667 | — | Acquired | 35382 | Direct |
| 2017-03-29 | Common Stock | F | 5926 | $5.21 | Disposed | 29456 | Direct |
| 2017-03-29 | Common Stock | M | 21250 | — | Acquired | 50706 | Direct |
| 2017-03-29 | Common Stock | F | 5812 | $5.21 | Disposed | 44894 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2017-03-29 | Restricted Stock Units | $ | M | 21667 | Disposed | 2019-03-29 | Common Stock (21667) | Direct |
| 2017-03-29 | Restricted Stock Units | $ | M | 21250 | Disposed | 2020-03-29 | Common Stock (21250) | Direct |
Footnotes
F1: Each Restricted Stock Unit represents a contingent right to receive one share of OCN common stock.
F2: Shares withheld pursuant to terms of the award to cover tax withholding obligations.
F3: On March 29, 2016, the reporting person was granted 65,000 restricted stock units scheduled to vest in three annual installments of 21,667, 21,667 and 21,666, respectively, commencing March 29, 2017.
F4: On March 29, 2016, the reporting person was granted 85,000 performance-based restricted stock units subject to both a performance-based condition and a time-based vesting schedule. The grant provided that if, on or before the fourth anniversary of the transaction date of March 29, 2016, the average of the closing prices per share of OCN Common Stock for a period of twenty consecutive trading days, plus the amount of any dividends paid on a share of OCN Common Stock on or before the last day of that period, equaled or exceeded $4.78, the restricted stock units would vest in four annual installments on the first, second, third and fourth anniversaries of March 29, 2016. This performance-based condition was satisfied on November 30, 2016. As a result, this award is scheduled to vest in four annual installments of 21,250, 21,250, 21,250 and 21,250 commencing March 29, 2017.