Francois Grunenwald - Mar 30, 2023 Form 4 Insider Report for OCWEN FINANCIAL CORP (OCN)

Role
Chief Accounting Officer
Signature
/s/ Leah E. Hutton, Attorney-in-Fact for Francois Grunenwald
Stock symbol
OCN
Transactions as of
Mar 30, 2023
Transactions value $
$0
Form type
4
Date filed
4/3/2023, 04:22 PM
Previous filing
Mar 6, 2023
Next filing
Apr 5, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OCN Common Stock Options Exercise +1.82K 1.82K Mar 30, 2023 Direct F1
transaction OCN Common Stock Disposed to Issuer -1.82K -100% 0 Mar 30, 2023 Direct F1
transaction OCN Common Stock Options Exercise +8.03K 8.03K Mar 30, 2023 Direct F2
transaction OCN Common Stock Disposed to Issuer -8.03K -100% 0 Mar 30, 2023 Direct F2
transaction OCN Common Stock Options Exercise +1.18K 1.18K Mar 31, 2023 Direct F4
transaction OCN Common Stock Disposed to Issuer -1.18K -100% 0 Mar 31, 2023 Direct F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction OCN Restricted Stock Units Options Exercise $0 -1.82K -100% $0.00* 0 Mar 30, 2023 Common Stock 1.82K Direct F1, F3
transaction OCN Restricted Stock Units Options Exercise $0 -8.03K -100% $0.00* 0 Mar 30, 2023 Common Stock 8.03K Direct F2, F3
transaction OCN Restricted Stock Units Options Exercise $0 -1.18K -33.32% $0.00 2.36K Mar 31, 2023 Common Stock 1.18K Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 30, 2020, the reporting person was granted 5,467 restricted stock units scheduled to vest in three approximately equal 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. Share number has been adjusted to give effect to the issuer's one-for-15 reverse stock split effective August 13, 2020. The transaction reported reflects the settlement in cash pursuant to the terms of the award of 1,822 restricted stock units that vested pursuant to the award on March 30, 2023. On March 30, 2023, the closing price of OCN common stock was $25.92.
F2 On March 30, 2020, the reporting person was granted a target of 5,467 restricted stock units subject to both a performance-based condition and a time-based vesting schedule. Share number has been adjusted to give effect to the issuer's one-for-15 reverse stock split effective August 13, 2020. On March 30, 2023, the award vested at 147% of target based on the relative ranking of the Issuer's absolute total shareholder return compared to the absolute total shareholder return of companies within the Issuer's pre-established peer group at designated measurement periods. The transaction reported reflects the settlement in cash pursuant to the terms of the award of 8,031 restricted stock units that vested pursuant to the award on March 30, 2023. On March 30, 2023, the closing price of OCN common stock was $25.92.
F3 Not applicable.
F4 On March 31, 2022, the reporting person was granted 3,544 restricted stock units scheduled to vest in three approximately equal annual installments on the first, second, and third anniversaries of grant, subject to the reporting person's continued employment and certain other conditions. 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 transaction reported reflects the settlement in cash pursuant to the terms of the award of 1,181 restricted stock units that vested pursuant to the award on March 31, 2023. On March 31, 2023, the closing price of OCN common stock was $27.12.