Rithm Capital Reports Officer Changes & Compensation Arrangements
Ticker: RITM-PD · Form: 8-K · Filed: Feb 27, 2024 · CIK: 1556593
| Field | Detail |
|---|---|
| Company | Rithm Capital Corp. (RITM-PD) |
| Form Type | 8-K |
| Filed Date | Feb 27, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-changes, compensation, corporate-governance
Related Tickers: RITM
TL;DR
**Rithm Capital just filed an 8-K about executive changes and their pay, keep an eye on leadership shifts.**
AI Summary
Rithm Capital Corp. filed an 8-K on February 27, 2024, reporting events that occurred on February 26, 2024. The filing details the departure, election, or appointment of certain officers and directors, along with compensatory arrangements for these officers. Additionally, the report includes financial statements and exhibits related to these changes.
Why It Matters
Changes in leadership and executive compensation can signal strategic shifts or impact investor confidence, potentially affecting the company's future direction and financial performance.
Risk Assessment
Risk Level: medium — Changes in executive leadership and compensation arrangements, while common, introduce a degree of uncertainty regarding future company strategy and stability.
Key Players & Entities
- Rithm Capital Corp. (company) — Filing entity
- New Residential Investment Corp. (company) — Former company name
- New Residential Investment LLC (company) — Former company name
- Spinco Inc. (company) — Former company name
FAQ
What company filed this 8-K report?
Rithm Capital Corp. filed this 8-K report.
What is the accession number for this filing?
The accession number for this filing is 0001140361-24-009551.
What items are reported under 'ITEM INFORMATION' in this 8-K?
The reported items are 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' and 'Financial Statements and Exhibits'.
What was the 'CONFORMED PERIOD OF REPORT' for this 8-K?
The 'CONFORMED PERIOD OF REPORT' for this 8-K was 20240226 (February 26, 2024).
What was one of the former names of Rithm Capital Corp.?
One of the former names of Rithm Capital Corp. was New Residential Investment Corp., with a name change date of 20121227.
Filing Stats: 1,128 words · 5 min read · ~4 pages · Grade level 12.8 · Accepted 2024-02-26 17:45:36
Key Financial Figures
- $0.01 — on which registered: Common Stock, $0.01 par value per share RITM New York S
Filing Documents
- ef20022469_8k.htm (8-K) — 41KB
- ef20022469_ex10-1.htm (EX-10.1) — 53KB
- 0001140361-24-009551.txt ( ) — 304KB
- ritm-20240226.xsd (EX-101.SCH) — 5KB
- ritm-20240226_def.xml (EX-101.DEF) — 19KB
- ritm-20240226_lab.xml (EX-101.LAB) — 30KB
- ritm-20240226_pre.xml (EX-101.PRE) — 22KB
- ef20022469_8k_htm.xml (XML) — 10KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 23, 2024, the Compensation Committee of the Board of Directors (the " Board ") of Rithm Capital Corp. (the " Company ") approved the adoption of the Rithm Capital Management LLC Long Term Incentive Plan (the " RCM Plan "). The purpose of the RCM Plan is to enable the Company to attract, retain and incentivize exceptional employees, advisors and other service providers of the Company and its subsidiaries and to enable such individuals to acquire an equity interest in, or otherwise participate in the long-term growth and financial success of, the Company and its subsidiaries. The RCM Plan will be administered by the Board (or a committee thereof). Awards granted under the RCM Plan will be evidenced by individual award agreements that provide the terms and conditions associated with such awards. Specifically, the RCM Plan provides for grants of Class A Profits Units and Class B Profits Units in Rithm Capital Management LLC, a wholly owned subsidiary of the Company (" RCM "). The RCM Plan also allows for awards of any other class of units in RCM designated as partnership profits interests. Each award will be granted subject to a benchmark amount calculated at the time of grant with respect to each award such that the award will have no liquidation value with respect to any value below such benchmark amount. Awards of Class B Profits Units granted under the RCM Plan that are designated as "Share-Settled Awards" will be exchangeable into shares of the Company's common stock (" Company Shares ") in accordance with the terms and conditions set forth in the individual award agreement. To the extent that any award granted under the RCM Plan is designated as a "Share-Settled Award" and settled in the form of Company Shares, the RCM Plan is intended to operate as a sub-plan under the Rithm Capital Corp. 2
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Rithm Capital Management LLC Long Term Incentive Plan, adopted as of February 23, 2024 . 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RITHM CAPITAL CORP. (Registrant) /s/ Nicola Santoro, Jr. Nicola Santoro, Jr. Chief Financial Officer and Chief Accounting Officer Date: February 26, 2024