SEC Form 4 · accession 0001493152-18-016817
ONITY GROUP INC. · ONIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Timothy J Yanoti
Officer — EVP & Chief Growth Officer
Period of report
Nov 26, 2018
Accepted (ET)
Nov 28, 2018 · 4:57 pm EST
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 | — | Nov 26, 2018 | A | 58,140 | A | — | — | Common Stock | 58,140 | 58,140 | D |
| Restricted Stock UnitsF1,F3 | — | Nov 26, 2018 | A | 93,023 | A | — | — | Common Stock | 93,023 | 93,023 | D |
| Stock Option (right to buy)F4 | $2.15 | Nov 26, 2018 | A | 81,395 | A | — | Nov 26, 2028 | Common Stock | 81,395 | 81,395 | 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 commencing November 26, 2019 subject to the reporting person's continued employment.
- F3If, on or before November 26, 2022, 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 $5.80, the restricted stock units will vest in four equal annual installments commencing November 26, 2019 (in each case, subject to the reporting person's continued employment, and 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).
- F4The Stock Option is scheduled to vest in three equal annual installments commencing November 26, 2019 subject to the reporting person's continued employment.