Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 20, 2020, the Board of Directors (the "Board") of Mr. Cooper Group Inc. (the "Company") appointed Shveta Mujumdar as a Director of the Company for a term ending at the 2020 annual meeting of stockholders.
Ms. Mujumdar currently serves as Vice President, Corporate Development, at Intuit, a leading business and financial software company.
Prior to her current role at Intuit, she served as Vice President, Corporate Development for Lynda.com, an online learning platform, up until and through the sale to LinkedIn for $1.5B. Additionally, Ms. Mujumdar has held various strategy,
corporate development and financial advisory roles at QuinStreet, Live Nation/Ticketmaster, Goldman Sachs and Deloitte. Ms. Mujumdar holds a B.A. and M.A. in economics from the University of Southern California
and an M.B.A. from the Haas School of Business at the University of California, Berkeley.
For her service on the Board, Ms. Mujumdar will receive a $125,000 annual fee for each twelve-month period that she serves on the Board. On May 14, 2020, the date of the
Company’s stockholder meeting, Ms. Mujumdar will be granted restricted stock units with a fair market value of $110,000 and an additional $18,500 of restricted stock units for her service on the Board in March
and April. The restricted stock units vest on the earlier of (i) the first anniversary of the grant date or (ii) the date of the Company’s next annual meeting of stockholders following the grant date.
A copy of the press release announcing Ms. Mujumdar’s appointment is attached as Exhibit 99.1