4//SEC Filing
Walker Arthur C Jr 4
Accession 0001493152-19-004761
CIK 0000873860other
Filed
Apr 1, 8:00 PM ET
Accepted
Apr 2, 6:55 PM ET
Size
22.9 KB
Accession
0001493152-19-004761
Insider Transaction Report
Form 4
Walker Arthur C Jr
SVP, International Tax
Transactions
- Exercise/Conversion
Common Stock
2019-03-29+11,875→ 79,992 total - Exercise/Conversion
Restricted Stock Units
2019-03-29−11,875→ 11,875 total→ Common Stock (11,875 underlying) - Award
Restricted Stock Units
2019-03-29+29,143→ 29,143 total→ Common Stock (29,143 underlying) - Award
Restricted Stock Units
2019-03-29+26,251→ 26,251 total→ Common Stock (26,251 underlying) - Tax Payment
Common Stock
2019-03-29$1.82/sh−2,922$5,318→ 68,117 total - Tax Payment
Common Stock
2019-03-29$1.82/sh−2,892$5,263→ 77,100 total - Exercise/Conversion
Restricted Stock Units
2019-03-29−12,000→ 0 total→ Common Stock (12,000 underlying) - Exercise/Conversion
Common Stock
2019-03-29+12,000→ 71,039 total - Award
Restricted Stock Units
2019-03-29+29,142→ 29,142 total→ Common Stock (29,142 underlying)
Footnotes (9)
- [F1]Each Restricted Stock Unit represents a contingent right to receive one share of OCN common stock.
- [F2]Shares withheld pursuant to terms of the award to cover tax withholding obligations.
- [F3]On March 29, 2016, the reporting person was granted 36,000 restricted stock units scheduled to vest in three annual installments of 12,000, 12,000 and 12,000, respectively, commencing March 29, 2017, subject to the reporting person's continued employment.
- [F4]The Restricted Stock Units have no expiration date.
- [F5]On March 29, 2016, the reporting person was granted 47,500 performance-based restricted stock units subject to both a performance-based condition and a time-based vesting schedule. The grant provided that if, on or before the fourth anniversary of the transaction date of March 29, 2016, the average of the closing prices per share of OCN Common Stock for a period of twenty consecutive trading days, plus the amount of any dividends paid on a share of OCN Common Stock on or before the last day of that period, equaled or exceeded $4.78, the restricted stock units would vest in four annual installments on the first, second, third and fourth anniversaries of March 29, 2016. This performance-based condition was satisfied on November 30, 2016. As a result, this award is scheduled to vest in four annual installments of 11,875, 11,875, 11,875 and 11,875 commencing March 29, 2017, subject to the reporting person's continued employment.
- [F6]Each Restricted Stock Unit represents a contingent right to receive a cash payment equal to the closing price of one share of OCN common stock on the applicable vesting date.
- [F7]On March 29, 2019, the reporting person was granted 26,251 restricted stock units subject to both a performance-based condition and a time-based vesting schedule. The target number of units subject to the award is reported above. On each of the first, second and third anniversaries of grant, between 0% and 200% of one-third of the target number of units will be eligible to vest based on the extent to which a pre-established cumulative absolute total shareholder return level is met.
- [F8]On March 29, 2019, the reporting person was granted 29,143 restricted stock units subject to both a performance-based condition and a time-based vesting schedule. The target number of units subject to the award is reported above. Between 0% and 200% of the target number of units will be eligible to vest on March 29, 2022 based on the extent to which a pre-established absolute total shareholder return level is met.
- [F9]On March 29, 2019, the reporting person was granted 29,142 restricted stock units scheduled to vest in three approximately equal annual installments on the first, second and third anniversaries of grant.
Documents
Issuer
OCWEN FINANCIAL CORP
CIK 0000873860
Entity typeother
Related Parties
1- filerCIK 0001593912
Filing Metadata
- Form type
- 4
- Filed
- Apr 1, 8:00 PM ET
- Accepted
- Apr 2, 6:55 PM ET
- Size
- 22.9 KB