VAN VLACK JOHN PATRICK 4
4 · OCWEN FINANCIAL CORP · Filed Oct 12, 2011
Insider Transaction Report
Form 4
VAN VLACK JOHN PATRICK
EVP/CFO/CAO
Transactions
- Award
Stock Options
2011-10-07+545,000→ 545,000 totalExercise: $12.83Exp: 2021-10-07→ Common Stock (545,000 underlying)
Footnotes (1)
- [F1]The vesting schedule for these options has a time-based component, in which 25% of the options vest in equal increments over four years, and a performance-based component, in which up to 75% of the options could vest in equal increments, with 25% vesting immediately upon the achievement of certain performance criteria related to OCN's stock price and its annualized rate of return and the remaining 75% vesting over the next three years. Two-thirds of the performance-based options would commence vesting if the stock price realizes a compounded annual gain of at least 20% over the exercise price, so long as the stock price is at least double the exercise price. The remaining third of the performance-based options would commence vesting if the stock price realizes a 25% compounded annual gain, so long as it is at least triple the exercise price.