Glen A. Messina - Mar 29, 2024 Form 4 Insider Report for OCWEN FINANCIAL CORP (OCN)

Role
President & CEO, Director
Signature
/s/ Leah E. Hutton, Attorney-in-Fact for Glen A. Messina
Stock symbol
OCN
Transactions as of
Mar 29, 2024
Transactions value $
-$306,780
Form type
4
Date filed
4/2/2024, 04:15 PM
Previous filing
Mar 5, 2024
Next filing
Apr 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OCN Common Stock Options Exercise +24.5K +9.58% 280K Mar 31, 2024 Direct F1, F2
transaction OCN Common Stock Tax liability -$307K -11.4K -4.05% $27.01 269K Mar 31, 2024 Direct F2, F3

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 -24.5K -50% $0.00 24.5K Mar 31, 2024 Common Stock 24.5K Direct F1, F4
transaction OCN Restricted Stock Units Award $0 +76.5K $0.00 76.5K Mar 29, 2024 Common Stock 76.5K Direct F4, F5
transaction OCN Restricted Stock Units Award $0 +76.5K $0.00 76.5K Mar 29, 2024 Common Stock 76.5K Direct F4, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 31, 2022, the reporting person was granted 73,529 restricted stock units scheduled to vest in three equal annual installments on the first, second, and third anniversaries of grant subject to continued employment and certain other conditions. Each restricted stock unit represents a contingent right to receive one share of OCN common stock on the vesting date.
F2 Includes 23,554 shares held jointly with spouse.
F3 Shares withheld pursuant to terms of the award to cover tax withholding obligations.
F4 Not applicable.
F5 On March 29, 2024, the reporting person was granted 76,540 restricted stock units scheduled to vest in three equal annual installments on the first, second, and third anniversaries of grant subject to continued employment and certain other conditions. Each restricted stock unit represents a contingent right to receive one share of OCN common stock on the vesting date.
F6 On March 29, 2024, the reporting person was granted 76,540 restricted stock units subject to both a performance-based condition and a time-based vesting schedule. Between 0% and 200% of the target number of units will be eligible to vest on March 29, 2027 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.