SEC Form 4 · accession 0001062993-16-010168
DITECH HOLDING Corp · DHCP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Birch Run Capital Advisors, LP
10% Owner
Daniel Gordon Beltzman
Director · 10% Owner
Gregory Howard Smith
10% Owner
BRC Advisors GP, LLC
10% Owner
Period of report
Jun 9, 2016
Accepted (ET)
Jun 10, 2016 · 4:40 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001040719
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jun 9, 2016 | A | 35,330 | $0.00 | A | 35,682 | D | |
| Common StockF2,F3,F4,F5 | holding | — | — | — | 974,587 | I | By Birch Run Capital Partners, LP | |
| Common StockF2,F3,F4,F5 | holding | — | — | — | 3,000,000 | I | By Walloon BRC, LP | |
| Common StockF2,F3,F4,F5 | holding | — | — | — | 3,500,000 | I | By Pike BRC, LP |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The Reporting Person, Daniel Beltzman, was awarded a grant of 35,330 immediately vesting restricted stock units (RSUs) of Walter Investment Management Corp. (the "Issuer") pursuant to the Issuer's 2011 Omnibus Incentive Plan, as amended and restated. Each RSU represents a contingent right to receive one share of the Issuer's common stock. Prior to the award, Mr. Beltzman held 352.41 shares of common stock directly. Following the award, Mr. Beltzman directly holds 35,682.41 shares of common stock of the Issuer for which he exercises sole voting and dispositive power.
- F2These securities are held directly by Birch Run Capital Partners, L.P., Walloon BRC, L.P. and Pike BRC, L.P. (collectively, "the Funds"). As of the date of this filing: Birch Run Capital Partners, L.P. directly holds 974,587 shares of common stock of the Issuer; Walloon BRC, L.P. directly holds 3,000,000 shares of common stock of the Issuer; and Pike BRC, L.P. directly holds of 3,500,000 shares of common stock of the Issuer.
- F3Birch Run Capital GP, L.L.C. serves as the General Partner to Birch Run Capital Partners, L.P. Walloon BRC GP, L.L.C. serves as the General Partner to Walloon BRC, L.P. Pike BRC GP, L.L.C. serves as the General Partner to Pike BRC, L.P. (collectively, "the General Partners"). Daniel Beltzman and Gregory Smith are the Co-Managing Members of the General Partners. As owners of the General Partners to the Funds, Messrs. Beltzman and Smith may share in an allocation of the profits of the Funds.
- F4Birch Run Capital Advisors, L.P. (the "Adviser") serves as the Investment Adviser to the Funds. Pursuant to management agreements among the Adviser, the Funds, and their respective general partners, the Adviser has complete and unlimited discretion and authority with respect to the Funds' investments and voting power over investments. In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held by the Funds. BRC Advisors GP, L.L.C. ("Adviser GP") is the General Partner to the Adviser. Daniel Beltzman and Gregory Smith are the Limited Partners of the Adviser and the Co-Managing Members of the Adviser GP. The Adviser, the Adviser GP, Daniel Beltzman and Gregory Smith may be deemed to share voting and dispositive power over the reported securities.
- F5Each of the Adviser, the Adviser GP, Daniel Beltzman, and Gregory Smith disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.