Statement of Changes in Beneficial Ownership (4)
March 04 2021 - 5:18PM
Edgar (US Regulatory)
FORM 4
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
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3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
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Grunenwald Francois |
2. Issuer Name and Ticker or Trading Symbol
OCWEN FINANCIAL CORP
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OCN
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) SVP & Chief Accounting Officer |
(Last)
(First)
(Middle)
1661 WORTHINGTON ROAD, SUITE 100 |
3. Date of Earliest Transaction
(MM/DD/YYYY)
3/2/2021 |
(Street)
WEST PALM BEACH, FL 33409
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Restricted Stock Units | (1) | 3/2/2021 | | A | | 3524 | | (2) | (3) | Common Stock | 3524 | $0 | 3524 | D | |
Restricted Stock Units | (1) | 3/2/2021 | | A | | 3525 | | (4) | (3) | Common Stock | 3525 | $0 | 3525 | D | |
Explanation of Responses: |
(1) | 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. |
(2) | On March 2, 2021, the reporting person was granted 3,524 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. |
(3) | Not applicable. |
(4) | On March 2, 2021, the reporting person was granted 3,525 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 2, 2024 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. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Grunenwald Francois 1661 WORTHINGTON ROAD, SUITE 100 WEST PALM BEACH, FL 33409 |
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| SVP & Chief Accounting Officer |
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Signatures
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/s/ Leah E. Hutton, Attorney-in-Fact for Francois Grunenwald | | 3/4/2021 |
**Signature of Reporting Person | Date |
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