SEC Form 4 · accession 0001019056-16-001232
ONITY GROUP INC. · ONIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Arthur C Walker Jr.
Officer — SVP, Global Tax
Period of report
Mar 29, 2016
Accepted (ET)
Mar 31, 2016 · 6:47 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.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Mar 29, 2016 | A | 36,000 | A | — | Mar 29, 2019 | Common Stock | 36,000 | 36,000 | D |
| Restricted Stock UnitsF1,F3 | — | Mar 29, 2016 | A | 47,500 | A | — | Mar 29, 2020 | Common Stock | 47,500 | 47,500 | D |
Explanation of responses
- 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).