Form 4: Mr. Cooper Group CEO Jesse K. Bray Sells 30,000 Shares Under 10b5-1 Plan

Mr. Cooper Group's CEO, Jesse K. Bray, sold 30,000 shares of common stock at an average price of $90.99, executed under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On October 1, 2024, Jesse K. Bray, the CEO of Mr. Cooper Group Inc., sold 30,000 shares of common stock.
• The sale was executed at a weighted average price of $90.99 per share, with individual transactions ranging from $90.55 to $91.47.
• The transaction was conducted under a pre-existing Rule 10b5-1 trading plan adopted by The Jesse K. Bray Living Trust on June 13, 2024.
• Following the transaction, Mr. Bray directly owns 926,001 shares and indirectly owns 179,631 shares through The Jesse K. Bray Living Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting an insider stock sale under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment about the company's performance.

Industry Context

Insider sales are a common occurrence, and the use of a 10b5-1 plan suggests the sale was pre-planned and not based on any specific non-public information. Investors often monitor insider transactions for signals about a company's prospects, but sales under 10b5-1 plans are generally viewed as less informative.

Comparison to Industry Standards

• Comparing Mr. Cooper Group's insider trading activity to peers like PennyMac Financial Services (PFSI) or Rithm Capital (RITM) would require analyzing their respective SEC filings for similar Form 4 transactions.
• Generally, the use of 10b5-1 plans is a standard practice among public company executives to avoid accusations of insider trading, aligning with industry best practices for corporate governance.

Stakeholder Impact

• The sale of shares by the CEO could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates this concern.
• The impact on employees, customers, suppliers, and creditors is likely to be minimal, as this is a personal financial transaction of the CEO.

Key Dates