Form 4: Mr. Cooper Group EVP Kurt Johnson Reports Stock Transactions

EVP and Chief Financial Officer of Mr. Cooper Group, Kurt G. Johnson, reports acquisition and disposal of company stock and performance share units.

Summary

• On March 1, 2024, Kurt G. Johnson, EVP & Chief Financial Officer of Mr. Cooper Group Inc., reported transactions involving the company's stock.
• He disposed of 4,239 shares of common stock to cover tax withholding obligations at a price of $71.28 per share.
• Johnson also acquired 10,522 shares of common stock through a restricted stock unit (RSU) award.
• Additionally, he was granted 10,522 performance share units (PSUs) that will vest based on performance criteria over a three-year period.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing reflects standard executive compensation practices and does not contain any overtly positive or negative information.

Positives

• The grant of RSUs and PSUs to a key executive suggests an incentive alignment with company performance and shareholder value.

Risks

• The vesting of PSUs is contingent on achieving specific performance targets, which may not be met.

Future Outlook

The vesting of the PSUs is dependent on the company's performance relative to total shareholder return and annualized tangible book value growth over the next three years.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track management's alignment with shareholder interests.

Comparison to Industry Standards

• Equity compensation in the form of RSUs and PSUs is a common practice among publicly traded companies to incentivize executives.
• Performance metrics such as total shareholder return and tangible book value growth are frequently used in PSU plans to align executive compensation with shareholder value creation.
• The vesting schedule of the RSUs (one-third vesting annually over three years) is a typical vesting structure.

Stakeholder Impact

• The transactions provide transparency to shareholders regarding executive compensation and alignment with company performance.

Key Dates