4//SEC Filing
Walker Arthur C Jr 4
Accession 0001493152-20-005468
CIK 0000873860other
Filed
Mar 30, 8:00 PM ET
Accepted
Mar 31, 4:15 PM ET
Size
15.4 KB
Accession
0001493152-20-005468
Insider Transaction Report
Form 4
Walker Arthur C Jr
SVP, International Tax
Transactions
- Tax Payment
Common Stock
2020-03-29$0.57/sh−2,892$1,648→ 86,083 total - Exercise/Conversion
Common Stock
2020-03-29+11,875→ 88,975 total - Exercise/Conversion
Common Stock
2020-03-29+9,714→ 95,797 total - Disposition to Issuer
Common Stock
2020-03-29−9,714→ 86,083 total - Exercise/Conversion
Restricted Stock Units
2020-03-29−11,875→ 0 total→ Common Stock (11,875 underlying) - Exercise/Conversion
Restricted Stock Units
2020-03-29−9,714→ 19,428 total→ Common Stock (9,714 underlying)
Footnotes (5)
- [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, 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. 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. The transactions reported on this Form 4 reflect the settlement in cash pursuant to the terms of the award of 9,714 restricted stock units that vested pursuant to the award on March 29, 2020. On March 27, 2020, the last trading day prior to the vesting date of March 29, 2020, the closing price of OCN common stock was $0.57.
- [F4]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, the award vested in four annual installments of 11,875 commencing March 29, 2017.
- [F5]Not applicable.
Documents
Issuer
OCWEN FINANCIAL CORP
CIK 0000873860
Entity typeother
Related Parties
1- filerCIK 0001593912
Filing Metadata
- Form type
- 4
- Filed
- Mar 30, 8:00 PM ET
- Accepted
- Mar 31, 4:15 PM ET
- Size
- 15.4 KB