Form 4: Rithm Capital Corp. CFO Nicola Santoro Jr. Reports Changes in Beneficial Ownership

Nicola Santoro Jr., CFO of Rithm Capital Corp., reports acquisition of common stock and Class B Profits Units due to dividend equivalent rights.

Summary

• On November 1, 2024, Nicola Santoro Jr., the Chief Financial Officer of Rithm Capital Corp., reported changes in beneficial ownership.
• Santoro acquired 1,210 shares of common stock and 1,280 Class B Profits Units of Rithm Capital Management LLC due to dividend equivalent rights.
• These dividend equivalent rights accrued on existing time-based restricted stock units and Class B Profits Units previously reported.
• Following the transaction, Santoro directly owns 113,821 shares of common stock, including 51,936 unvested restricted stock units.
• Santoro also directly owns 54,974 Class B Profits Units.
• The Class B Profits Units are exchangeable into shares of Common Stock of the Issuer on a one-for-one basis under certain conditions.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The filing reflects routine compensation and dividend accrual, indicating a healthy return on existing holdings for the CFO. There are no indications of negative events or concerns.

Positives

• The acquisition of shares and units is due to dividend equivalent rights, indicating a return on existing holdings.
• The Class B Profits Units offer potential future value as they are exchangeable into common stock.

Future Outlook

The Class B Profits Units will vest in three equal annual installments on February 23 of each of 2025, 2026 and 2027, so long as the Reporting Person remains in continued employment with the Issuer.

Industry Context

Form 4 filings are routine disclosures required by the SEC to ensure transparency in insider trading activities. This filing indicates changes in the CFO's holdings of Rithm Capital Corp. securities.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the CFO's stake in the company.
• The vesting schedule of the Class B Profits Units incentivizes the CFO to remain with the company.

Key Dates