SEC Form 4 · accession 0001019056-16-001230

ONITY GROUP INC. · ONIT

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — President and CEO

Period of report

Mar 29, 2016

Accepted (ET)

Mar 31, 2016 · 6:46 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000873860

Table I — non-derivative securities

No Table I lines on this filing.

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Restricted Stock Units^F1,F2	—	Mar 29, 2016	A	230,126	A	—	Mar 29, 2019	Common Stock	230,126	230,126	D
Restricted Stock Units^F1,F3	—	Mar 29, 2016	A	601,635	A	—	Mar 29, 2020	Common Stock	601,635	601,635	D

F1Each restricted stock unit represents a contingent right to receive one share of OCN Common Stock.
F2The restricted stock units are scheduled to vest in three equal annual installments on the first, second, and third anniversaries of the transaction date reported above.
F3If, on or before the fourth anniversary of the transaction date reported above, 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 during the term of the award on or before the last day of that period, equals or exceeds $4.78, the restricted stock units will vest in four equal annual installments on the first, second, third and fourth anniversaries of the transaction date reported above (in each case, if such date occurs before the date that the stock price-based vesting condition is satisfied, the vesting of that installment will occur on the satisfaction of the stock price-based vesting condition).