SEC Form 4 · accession 0001140361-16-047152
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
Jan 6, 2016
Accepted (ET)
Jan 7, 2016 · 4:40 pm EST
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 | Jan 6, 2016 | M | 69,805 | $5.808 | A | 69,805 | D | |
| Common Stock | holding | — | — | — | 5,409,704 | I | By Munus, L.P. | |
| Common Stock | holding | — | — | — | 2,000,000 | I | By Salt Pond Holdings, LLC | |
| Common Stock | holding | — | — | — | 8,020,852 | I | By Tribue Limited Partnership | |
| Common Stock | holding | — | — | — | 2,440,000 | I | By Caritas Partners, LLC |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionsF2,F1 | $5.808 | Jan 6, 2016 | M | 69,805 | D | Jan 16, 2015 | Mar 8, 2016 | Common Stock | 69,805 | 0 | D |
| Preferred LP InterestF3 | — | Dec 31, 2015 | G | 1 | D | — | — | Common Stock | — | 0 | I |
Explanation of responses
- F1Exercise price ($5.80844) reflects an adjustment for Ocwen Financial Corporation ("Ocwen") stock options outstanding on or before the Altisource Portfolio Solutions S.A. spin-off transaction completed on August 10, 2009 to adjust for the spin-off.
- F2These options were granted pursuant to a stock option award from Ocwen, dated March 8, 2006, that expires on March 8, 2016.
- F3On December 31, 2015, Erbey Holding Corporation, Inc. (a corporation wholly owned by Mr. Erbey) made a charitable gift of a 30% preferred limited partner interest in Munus, L.P. to The Community Foundation of West Georgia, Inc., a Georgia nonprofit corporation exempt from federal income taxes under Internal Revenue Code ("Code") section 501(c)(3), a public charity described in Code section 170(b)(1)(A)(vi). No Ocwen shares were transferred as part of the gift and, as a result, Mr. Erbey's pecuniary interest in the shares of Ocwen did not change.