Form 4: Rithm Capital Corp. CEO Michael Nierenberg Reports Changes in Beneficial Ownership

Michael Nierenberg, CEO of Rithm Capital Corp., reports acquisition of dividend equivalent rights and adjustments to holdings of common stock and Class B Profits Units.

Summary

• On April 26, 2024, Michael Nierenberg, the CEO of Rithm Capital Corp., reported changes in his beneficial ownership of the company's securities.
• He acquired 7,580 shares of common stock representing dividend equivalent rights accrued on existing time-based restricted stock units.
• He also acquired 6,160 Class B Profits Units of Rithm Capital Management LLC, representing dividend equivalent rights accrued on existing units.
• Nierenberg directly owns 1,266,117 shares of common stock, which includes 347,509 unvested restricted stock units and 385,356 unvested shares of restricted stock.
• He also indirectly owns shares through various trusts for his children, daughter, and son, as well as through a 2019 GRAT and as custodian.
• Nierenberg directly owns 282,403 Class B Profits Units of Rithm Capital Management LLC.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing detailing changes in beneficial ownership. It doesn't contain overtly positive or negative information, but the acquisition of dividend equivalent rights could be seen as a slightly positive indicator.

Positives

• The acquisition of dividend equivalent rights suggests continued confidence in the company's performance and dividend payouts.

Future Outlook

The Class B Profits Units vest in three equal annual installments on March 15 of each of 2025, 2026 and 2027, contingent upon continued employment.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the CEO's holdings and alignment with company performance.

Key Dates