Form 4: Rithm Capital CEO Michael Nierenberg Reports Share Disposal for Tax Obligations

Michael Nierenberg, CEO of Rithm Capital Corp., reports disposing of shares to cover tax withholding obligations related to settled restricted stock units.

Summary

• Michael Nierenberg, the CEO of Rithm Capital Corp., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On March 21, 2024, Nierenberg disposed of 79,873 shares of common stock at a price of $10.6 to cover tax withholding obligations when 169,964 previously reported restricted stock units were settled.
• Following the transaction, Nierenberg directly owns 1,258,537 shares of Rithm Capital Corp.
• He also indirectly owns shares through various trusts for his children, a daughter, a son, a 2019 GRAT, and as a custodian for his daughter and son.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing detailing a stock transaction for tax purposes. It doesn't inherently indicate positive or negative sentiment, but rather a standard financial procedure.

Industry Context

Form 4 filings are standard practice for company insiders to report changes in their ownership of company stock, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

• The transaction may have a minor impact on shareholders due to the slight dilution from the initial vesting of restricted stock units, offset by the subsequent share disposal.

Key Dates