SEC Form 4 · accession 0001140361-16-089035
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
Dec 5, 2016
Accepted (ET)
Dec 7, 2016 · 4:41 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 | Dec 5, 2016 | X | 200 | $2.50 | D | 9,020,652 | I | By Tribue Limited Partnership |
| Common StockF1 | Dec 6, 2016 | X | 300 | $2.50 | D | 9,020,352 | I | By Tribue Limited Partnership |
| Common StockF1 | Dec 6, 2016 | X | 500 | $3.00 | D | 9,019,852 | I | By Tribue Limited Partnership |
| Common Stock | holding | — | — | — | 69,805 | D | ||
| Common Stock | holding | — | — | — | 7,849,704 | I | By Munus, L.P. | |
| Common Stock | holding | — | — | — | 1,000,000 | I | By Salt Pond Holdings, LLC |
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 | $2.50 | Dec 5, 2016 | X | 2 | D | Jul 20, 2016 | Jan 19, 2018 | Common Stock | 200 | 39,998 | I |
| Call Options (obligation to sell)F1 | $2.50 | Dec 6, 2016 | X | 3 | D | Jul 20, 2016 | Jan 19, 2018 | Common Stock | 300 | 39,995 | I |
| Call Options (obligation to sell)F1 | $3.00 | Dec 6, 2016 | X | 5 | D | Apr 29, 2016 | Jan 20, 2017 | Common Stock | 500 | 2,495 | I |
| Membership Unit InterestsF2 | — | Oct 27, 2016 | G | 1 | D | — | — | Common Stock | — | 0 | D |
| Membership Unit InterestsF2 | — | Oct 27, 2016 | G | 1 | A | — | — | Common Stock | — | 0 | I |
Explanation of responses
- F1On December 5, 2016 and December 6, 2016, call options previously written by Tribue Limited Partnership ("Tribue") were exercised.
- F2On October 27, 2016, Mr. Erbey gifted his 56.2% membership unit interests in Salt Pond Holdings, LLC to the Christiansted Trust, a U.S. Virgin Islands trust (the "Trust") in which Mr. Erbey has investment control and for which Mr. Erbey, Mr. and Mrs. Erbey's descendants and charitable organizations are the beneficiaries. No Ocwen shares were transferred as part of the gift and as a result, Mr. Erbey's beneficial ownership in the shares of Ocwen did not change.