PHH CORP 4/A
4/A · PHH CORP · Filed Dec 15, 2014
Insider Transaction Report
Form 4/AAmended
PHH CORPPHH
Ruggieri Kathryn M
SVP and Chief HR Officer
Transactions
- Award
Common Stock
2014-09-23+21,288→ 21,288 total
Footnotes (3)
- [F1]The purpose of this amendment is to re-report the transaction reported in the original Form 4 solely to reflect changes to the disclosure in footnote 1 of the original Form 4 resulting from amendments made effective as of December 11, 2014 to the vesting provisions of the restricted stock unit award in the event recipient's employment with PHH Corporation is terminated without Cause (as defined in the award). No other changes to the transaction as reported in the original Form 4 have been made.
- [F2]Represents shares of common stock underlying unvested restricted stock units ("RSUs"). Each RSU represents the right to receive one share of PHH Corporation common stock upon vesting. Subject to recipient's continued employment with PHH Corporation through the applicable vesting dates, 25% of the RSUs are scheduled to vest on Sept. 23, 2015, 35% of the RSUs are scheduled to vest on Sept. 23, 2016, and 40% of the RSUs are scheduled to vest on Sept. 23, 2017. If recipient's employment with PHH Corporation is terminated without Cause (as defined in the award), then a pro rated portion of the RSUs will vest on the applicable vesting dates based upon the number of days of recipient's service from the grant date through Sept. 23, 2016. If recipient's employment with PHH Corporation ceases for any reason other than for Cause on or after Sept. 23, 2016, the then unvested RSUs will continue to vest on the applicable vesting dates if she complies with all applicable restrictive covenants.
- [F3]Includes 21,288 shares of common stock underlying unvested RSUs. Each RSU represents the right to receive one share of common stock upon vesting.