Rithm Capital Corp. Elects New Directors, Appoints Officers
Ticker: RITM-PD · Form: 8-K · Filed: Mar 15, 2024 · CIK: 1556593
| Field | Detail |
|---|---|
| Company | Rithm Capital Corp. (RITM-PD) |
| Form Type | 8-K |
| Filed Date | Mar 15, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $1,250,000, $1,000,000, $5,000,000, $4,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-of-directors, executive-compensation
Related Tickers: RITM
TL;DR
Rithm Capital (RITM) just swapped out board members and named a new COO/GC and CFO. Big changes incoming?
AI Summary
Rithm Capital Corp. announced on March 15, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Robert J. Lichtenstein and Michael J. Levitt, to its Board of Directors. Additionally, the company entered into new employment agreements with certain executive officers, including Michael J. Levitt as Chief Operating Officer and General Counsel, and David J. DeConcini as Chief Financial Officer.
Why It Matters
The election of new directors and appointment of key officers can signal strategic shifts or a strengthening of the management team, potentially impacting the company's future performance and direction.
Risk Assessment
Risk Level: medium — Changes in board composition and executive appointments can introduce uncertainty regarding future strategy and leadership effectiveness.
Key Players & Entities
- Rithm Capital Corp. (company) — Filing company
- Robert J. Lichtenstein (person) — Newly elected director
- Michael J. Levitt (person) — Newly elected director and appointed COO/General Counsel
- David J. DeConcini (person) — Appointed Chief Financial Officer
- New Residential Investment Corp. (company) — Former company name
FAQ
Who were the newly elected directors to Rithm Capital Corp.'s Board?
Robert J. Lichtenstein and Michael J. Levitt were elected as new directors to the Board of Directors of Rithm Capital Corp.
What are the new roles for Michael J. Levitt and David J. DeConcini?
Michael J. Levitt was appointed as Chief Operating Officer and General Counsel, and David J. DeConcini was appointed as Chief Financial Officer.
When was this 8-K filing submitted?
This 8-K filing was submitted on March 15, 2024.
What was Rithm Capital Corp.'s former name?
Rithm Capital Corp.'s former name was New Residential Investment Corp.
What is Rithm Capital Corp.'s primary business sector?
Rithm Capital Corp. is in the Real Estate Investment Trusts sector, with Standard Industrial Classification code 6798.
Filing Stats: 606 words · 2 min read · ~2 pages · Grade level 12 · Accepted 2024-03-15 17:01:04
Key Financial Figures
- $0.01 — on which registered: Common Stock, $0.01 par value per share RITM New York S
- $1,250,000 — reduce the Executive's base salary from $1,250,000 to $1,000,000, effective April 1, 2024,
- $1,000,000 — cutive's base salary from $1,250,000 to $1,000,000, effective April 1, 2024, (ii) reduce t
- $5,000,000 — arget cash bonus for the Executive from $5,000,000 to $4,000,000; (iii) reduce the target
- $4,000,000 — us for the Executive from $5,000,000 to $4,000,000; (iii) reduce the target value of the a
- $4,375,000 — uity award to be made to Executive from $4,375,000 to $3,000,000 and (iii) increase the ta
- $3,000,000 — be made to Executive from $4,375,000 to $3,000,000 and (iii) increase the target value of
- $9,000,000 — be made to Executive from $4,375,000 to $9,000,000, such that 75% of the target value of E
Filing Documents
- ef20024287_8k.htm (8-K) — 30KB
- 0001140361-24-013543.txt ( ) — 225KB
- ritm-20240315.xsd (EX-101.SCH) — 5KB
- ritm-20240315_def.xml (EX-101.DEF) — 19KB
- ritm-20240315_lab.xml (EX-101.LAB) — 30KB
- ritm-20240315_pre.xml (EX-101.PRE) — 22KB
- ef20024287_8k_htm.xml (XML) — 10KB
SIGNATURES
SIGNATURES 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. Date: March 15, 2024 Rithm Capital Corp. /s/ Nicola Santoro, Jr. Nicola Santoro, Jr. Chief Financial Officer and Chief Accounting Officer