Form 4: Rithm Capital Corp. CFO Nicola Santoro Jr. Reports Changes in Beneficial Ownership
SEC Form 4
Nicola Santoro Jr., CFO of Rithm Capital Corp., reports acquisition of common stock and Class B Profits Units due to dividend equivalent rights and profits interest awards.
Summary
- On April 30, 2025, Nicola Santoro Jr., CFO of Rithm Capital Corp., filed a Form 4 detailing changes in beneficial ownership.
- Santoro acquired 595 shares of common stock due to dividend equivalent rights accrued on existing time-based restricted stock units.
- He also acquired Class B Profits Units of Rithm Capital Management LLC (RCM) due to dividend equivalent rights and profits interest awards.
- These Class B Profits Units are exchangeable into shares of Common Stock of the Issuer on a one-for-one basis under certain conditions.
- The reported transactions increased Santoro's holdings to 105,692 shares of common stock and various amounts of Class B Profits Units.
Sentiment
Score: 6
Explanation: The document is a routine regulatory filing, indicating standard compensation practices and alignment of management interests. It doesn't contain overtly positive or negative information.
Positives
- The acquisition of shares and units reflects continued alignment of the CFO's interests with the company's performance.
- The vesting schedules of the Class B Profits Units incentivize long-term employment and performance.
Future Outlook
The document does not contain specific forward-looking statements, but the vesting schedules of the Class B Profits Units suggest a continued commitment from the CFO.
Industry Context
Form 4 filings are a standard part of regulatory compliance for company insiders and provide transparency to investors regarding ownership changes.
Stakeholder Impact
- The reported transactions provide transparency to shareholders regarding the CFO's ownership stake in the company.
- The vesting schedules of the Class B Profits Units may incentivize the CFO to contribute to the company's long-term success.
Key Dates
| Date | Description |
|---|---|
| 2024-02-23 | Date of profits interest award in the form of Class B Profits Units in RCM granted to the Reporting Person. |
| 2025-01-27 | Date performance-based criteria have been satisfied for 1 of the 3 tranches of Class B Profits Units. |
| 2025-02-24 | Date of profits interest award in the form of Class B Profits Units in RCM granted to the Reporting Person. |
| 2025-04-30 | Date of the reported transactions. |
| 2025-05-02 | Date of signature. |
| 2025-02-23 | First vesting date of Class B Profits Units granted on February 23, 2024. |
| 2026-02-24 | First vesting date of Class B Profits Units granted on February 24, 2025. |
| 2026-02-23 | Second vesting date of Class B Profits Units granted on February 23, 2024. |
| 2027-02-23 | Vesting date of performance-based Class B Profits Units and third vesting date of Class B Profits Units granted on February 23, 2024. |
| 2027-02-24 | Second vesting date of Class B Profits Units granted on February 24, 2025. |
| 2028-02-24 | Third vesting date of Class B Profits Units granted on February 24, 2025. |
Keywords
Form 4, Rithm Capital Corp., Nicola Santoro Jr., CFO, Beneficial Ownership, Common Stock, Class B Profits Units, Dividend Equivalent Rights, Rithm Capital Management LLC, RCM, Profits Interest Award
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