OCWEN FINANCIAL CORP DEF 14A Filing

Ticker: ONIT · Form: DEF 14A · Filed: Apr 23, 2024 · CIK: 873860

Ocwen Financial Corp DEF 14A Filing Summary
FieldDetail
CompanyOcwen Financial Corp (ONIT)
Form TypeDEF 14A
Filed DateApr 23, 2024
Risk Levellow
Pages16
Reading Time19 min
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, OCWEN FINANCIAL CORP, Executive Compensation, Corporate Governance, SEC Filing

TL;DR

<b>OCWEN FINANCIAL CORP files DEF 14A for fiscal year 2023.</b>

AI Summary

OCWEN FINANCIAL CORP (ONIT) filed a Proxy Statement (DEF 14A) with the SEC on April 23, 2024. Filing type is DEF 14A for the period ending 2023-12-31. Company name is OCWEN FINANCIAL CORP, SIC code 6162. Incorporated in Florida, fiscal year ends December 31. Business and mailing address: 1661 Worthington Road, Suite 100, West Palm Beach, FL 33409. Phone number: 561-682-8000.

Why It Matters

For investors and stakeholders tracking OCWEN FINANCIAL CORP, this filing contains several important signals. This DEF 14A filing provides detailed information on executive compensation, corporate governance, and other matters for the fiscal year ended December 31, 2023. The filing is crucial for investors to understand how executive compensation is structured and how it aligns with company performance and shareholder interests.

Risk Assessment

Risk Level: low — OCWEN FINANCIAL CORP shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard disclosure practices rather than immediate company-specific events.

Analyst Insight

Review the executive compensation details and any shareholder proposals to assess alignment with company strategy and performance.

Key Numbers

  • 2023-12-31 — Conformed Period of Report (Fiscal year end)
  • 2024-04-23 — Filed as of Date (Filing date)
  • 6162 — Standard Industrial Classification (Mortgage Bankers & Loan Correspondents)

Key Players & Entities

  • OCWEN FINANCIAL CORP (company) — Filer name
  • 6162 (dollar_amount) — Standard Industrial Classification
  • FL (company) — State of Incorporation
  • 1661 Worthington Road (company) — Business Address Street 1
  • West Palm Beach (company) — Business Address City
  • 33409 (company) — Business Address ZIP
  • 561-682-8000 (company) — Business Phone

FAQ

When did OCWEN FINANCIAL CORP file this DEF 14A?

OCWEN FINANCIAL CORP filed this Proxy Statement (DEF 14A) with the SEC on April 23, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by OCWEN FINANCIAL CORP (ONIT).

Where can I read the original DEF 14A filing from OCWEN FINANCIAL CORP?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by OCWEN FINANCIAL CORP.

What are the key takeaways from OCWEN FINANCIAL CORP's DEF 14A?

OCWEN FINANCIAL CORP filed this DEF 14A on April 23, 2024. Key takeaways: Filing type is DEF 14A for the period ending 2023-12-31.. Company name is OCWEN FINANCIAL CORP, SIC code 6162.. Incorporated in Florida, fiscal year ends December 31..

Is OCWEN FINANCIAL CORP a risky investment based on this filing?

Based on this DEF 14A, OCWEN FINANCIAL CORP presents a relatively low-risk profile. The filing is a routine DEF 14A, indicating standard disclosure practices rather than immediate company-specific events.

What should investors do after reading OCWEN FINANCIAL CORP's DEF 14A?

Review the executive compensation details and any shareholder proposals to assess alignment with company strategy and performance. The overall sentiment from this filing is neutral.

How does OCWEN FINANCIAL CORP compare to its industry peers?

Ocwen Financial Corp operates in the mortgage banking and loan correspondent industry.

Are there regulatory concerns for OCWEN FINANCIAL CORP?

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information.

Industry Context

Ocwen Financial Corp operates in the mortgage banking and loan correspondent industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information.

What Investors Should Do

  1. Analyze executive compensation packages for reasonableness and alignment with performance.
  2. Review any shareholder proposals and management's recommendations.
  3. Examine disclosures related to board of directors and corporate governance practices.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard annual disclosure document for proxy solicitations. Specific comparative data from the previous filing is not detailed within this header information.

Filing Stats: 4,698 words · 19 min read · ~16 pages · Grade level 16.9 · Accepted 2024-04-22 17:40:31

Filing Documents

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A INFORMATION Proxy Securities Exchange Act of 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, For Use of the Commission only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to ss.240.14a-12 OCWEN FINANCIAL CORPORATION (Name of Registrant as Specified in its Charter) N/A (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): No Fee Required Fee paid previously with preliminary materials Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 April 12, 2024 Dear Fellow Shareholder: On behalf of the Board of Directors, I cordially invite you to participate in the Annual Meeting of Shareholders of Ocwen Financial Corporation, which will be held on Tuesday, May 28, 2024, at 9:00 a.m., Eastern Daylight Time. Our experience continues to demonstrate that virtual-format shareholder meetings allow more shareholders to participate online than would be able to travel to the meeting to attend in person, so we will again be hosting this year's Annual Meeting in a virtual format only via live audiocast on the Internet at www.virtualshareholdermeeting.com/OCN2024 . To participate, vote or submit questions during the Annual Meeting via live audiocast, please review the detailed procedures included in our Notice of Annual Meeting. You will not be able to attend the Annual Meeting physically in person. For purposes of attendance at the Annual Meeting, all references herein to "present," "participate," or "in person," shall mean virtually present at the Annual Meeting. Details of the business to be conducted at the Annual Meeting and instructions for how to participate in the Annual Meeting are set forth in the accompanying Notice of 2024 Annual Meeting of Stockholders and Proxy Statement. Only stockholders of record and beneficial owners at the close of business on March 25, 2024 are entitled to notice of and to vote at the Annual Meeting and any adjournments or postponements thereof. It is very important that you be represented at the Annual Meeting regardless of the number of shares you own or whether you are able to participate in our virtual Annual Meeting. We encourage you to complete your proxy card in one of the manners described in the accompanying materials even if you plan to participate in the Annual Meeting. This will not prevent you from voting during the Annual Meeting if you choose to participate and vote at that time, but will ensure that your vote is counted if you are unable to participate. If you are a beneficial owner holding shares through a brokerage firm, bank, broker-dealer, or similar organization you should follow the instructions on your voting instruction form to vote your shares. Please note that if you are a beneficial owner of our shares you may not be able to vote your shares at the Annual Meeting unless you have obtained a legal proxy from your brokerage firm, bank, broker-dealer, or similar organization. Please contact your brokerage firm, bank, broker-dealer or other similar organization for information about specific requirements if you would like to vote your shares at the meeting. Your continued support of, and interest in, Ocwen Financial Corporation is sincerely appreciated. Sincerely, Glen A. Messina Chair, Board of Directors OCWEN FINANCIAL CORPORATION 1661 Worthington Road, Suite 100 West Palm Beach, Florida 33409 NOTICE OF ANNUAL MEETING OF SHAREHOLDERS AND IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE SHAREHOLDER MEETING TO BE HELD ON MAY 28, 2024 NOTICE Our Annual Meeting of Shareholders will be held: Date: Tuesday, May 28, 2024 Time: 9:00 a.m., Eastern Daylight Time Location: Virtual Meeting Only via Live Audiocast Please review the instructions contained in this Proxy Statement if you wish to participate in the virtual Annual Meeting. PURPOSE To elect the seven directors listed in the accompanying proxy statement for one-year terms or until their successors are elected and qualified; To approve an amendment to our Articles of Incorporation, as amended, to change our name to "Onity Group Inc."; To ratify the appointment by the Audit Committee of our Board of Directors of Deloitte & Touche LLP as the independent registered public accounting firm of Ocwen Financial Corporation for the fiscal year ending December 31, 2024; To approve, on an advisory basis, our named executive officer compensation (Say-on-Pay); To approve an amendment to the Ocwen Financial Corporation 2021 Equity Incentive Plan to increase the number of available shares; and To transact such other business as may properly come before the meet

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