SEC Form 4 · accession 0001019056-15-000842
ONITY GROUP INC. · ONIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John V. Britti
Officer — EVP & Chief Investment Officer
Period of report
Oct 24, 2015
Accepted (ET)
Oct 27, 2015 · 4:20 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000873860
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Oct 24, 2015 | M | 2,516 | — | A | 27,121 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Restricted SharesF1,F2 | — | Oct 24, 2015 | M | 2,516 | D | — | — | Common Stock | 2,516 | 0 | D |
Explanation of responses
- F1Reflects the number of shares issued upon vesting of one-fourth of a $75,000 cash-denominated, performance-based restricted stock award granted on March 5, 2012. The award vests in four equal annual increments of $18,750 commencing on the date as of which the share price equals or exceeds $39.51 with a 25% or greater annualized rate of return in the stock price measured from the date of grant, which vesting began on October 24, 2012.
- F2If Mr. Britti's employment terminates other than by reason of his retirement or disability prior to vesting of the entire restricted share rights, the restricted share rights shall terminate and be cancelled for the shares that have not already vested on the last day of Mr. Britti's employment with Ocwen Financial Corporation.