Form 4: Ocwen Financial Corp SVP Settles Restricted Stock Units for Cash
SEC Form 4
Francois Grunenwald, SVP & Chief Accounting Officer of Ocwen Financial Corp, settled restricted stock units for cash on March 2, 2024.
Summary
- On March 2, 2024, Francois Grunenwald, SVP & Chief Accounting Officer of Ocwen Financial Corp, settled restricted stock units for cash.
- The transactions involved the settlement of 1,175 restricted stock units from an award granted on March 2, 2021, which vested on March 2, 2024.
- Additionally, 3,845 restricted stock units from another award granted on March 2, 2021, also vested and were settled in cash on the same date.
- The closing price of OCN common stock on March 1, 2024, was $26.10.
- The award vested at 109% of target based on the relative ranking of the Issuer's absolute total shareholder return compared to the absolute total shareholder return of companies within the Issuer's pre-established peer group at designated measurement periods.
Sentiment
Score: 5
Explanation: This is a neutral event related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock-based awards, common in publicly traded companies.
Stakeholder Impact
- The settlement of restricted stock units impacts the company's cash flow and potentially shareholder equity, although the impact is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 03/02/2021 | Reporting person was granted 3,524 restricted stock units scheduled to vest in three approximately equal installments on the first, second, and third anniversaries of grant. |
| 03/02/2021 | Reporting person was granted 3,525 restricted stock units subject to both a performance-based condition and a time-based vesting schedule. |
| 03/01/2024 | The last trading day prior to the vesting date, the closing price of OCN common stock was $26.10. |
| 03/02/2024 | Settlement of 1,175 restricted stock units that vested pursuant to the award. |
| 03/02/2024 | The award vested at 109% of target based on the relative ranking of the Issuer's absolute total shareholder return compared to the absolute total shareholder return of companies within the Issuer's pre-established peer group at designated measurement periods. |
| 03/02/2024 | Settlement in cash of 3,845 restricted stock units that vested pursuant to the award. |
| 03/05/2024 | Date of signature for the Form 4 filing. |
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