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ONITY GROUP INC. — Director's Dealing 2020
Apr 7, 2020
33237_dirs_2020-04-07_43f6fd55-966b-43fe-89a0-64b9c3037386.zip
Director's Dealing
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SEC Form 4/A — Form 4/A
Issuer: OCWEN FINANCIAL CORP (OCN)
CIK: 0000873860
Period of Report: 2020-03-30
Reporting Person: Messina Glen A. (Director, President & CEO)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2020-03-30 | Restricted Stock Units | $ | A | 1125000 | Acquired | Common Stock (1125000) | Direct | |
| 2020-03-30 | Restricted Stock Units | $ | A | 1125000 | Acquired | Common Stock (1125000) | Direct |
Footnotes
F1: Each restricted stock unit represents a contingent right to receive one share of OCN common stock on the applicable vesting date.
F2: This filing amends a Form 4 filed April 1, 2020 (the "Prior Form 4") reporting two grants of restricted stock units in the amount of 1,575,000 each. A proportion of the number of restricted stock units under each grant reported in the Prior Form 4 reflected a proposed increase to the reporting person's compensation arrangement which the reporting person declined to accept. This amendment to Form 4 reflects the number of restricted stock units actually granted to the reporting person after taking into account the reporting person's decision to decline the portion of the initially approved awards that corresponded to the declined compensation increase.
F3: On March 30, 2020, the reporting person was granted 1,125,000 restricted stock units subject to both a performance-based condition and a time-based vesting schedule. The target number of units subject to the award is reported above. Between 0% and 200% of the target number of units will be eligible to vest on March 30, 2023 based on the relative ranking of the Issuer's absolute total shareholder return compared to the absolute total shareholder return of companies within the Issuer's pre-established peer group at designated measurement periods.
F4: Not applicable.
F5: On March 30, 2020, the reporting person was granted 1,125,000 restricted stock units scheduled to vest in three approximately equal annual installments on the first, second and third anniversaries of grant.