SEC Form 4 · accession 0001140361-15-021120
ONITY GROUP INC. · ONIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William C Erbey
10% Owner
Period of report
May 18, 2015
Accepted (ET)
May 20, 2015 · 5:07 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 Stock | holding | — | — | — | 0 | D | ||
| Common Stock | holding | — | — | — | 10,020,852 | I | By Salt Pond Holdings, LLC | |
| Common Stock | holding | — | — | — | 2,440,000 | I | By Caritas Partners, LLC | |
| Common Stock | holding | — | — | — | 5,409,704 | I | By Erbey Holding Corporation |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Call Options (obligation to sell)F1 | $12.1562 | May 18, 2015 | S | 1 | D | May 18, 2015 | Dec 18, 2015 | Common Stock | 2,500,000 | 1 | I |
| Call Options (obligation to sell)F1 | $12.1562 | May 18, 2015 | S | 1 | D | May 18, 2015 | May 20, 2016 | Common Stock | 500,000 | 1 | I |
| Call Options (obligation to sell)F1 | $13.1692 | May 18, 2015 | S | 1 | D | May 18, 2015 | May 20, 2016 | Common Stock | 500,000 | 1 | I |
| Call Options (obligation to sell)F1 | $14.1822 | May 18, 2015 | S | 1 | D | May 18, 2015 | Apr 21, 2017 | Common Stock | 1,000,000 | 1 | I |
Explanation of responses
- F1Option transaction entered into by Salt Pond Holdings, LLC, a Virgin Islands limited liability company, which is 56.291% owned by Mr. Erbey, 24.284% owned by Mr. Erbey's spouse, and 19.425% owned by Erbey Holding Corporation, a corporation wholly-owned by Mr. Erbey.