|
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
|
| |||||||||||||||||||||||||||||
|
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction 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 (Month/Day/Year) |
7. Title and Amount of Underlying Securities (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) | 03/04/2019 | A | 24,424 | (2) | (2) | Common Stock | 24,424 | $ 0 | 24,424 | D | ||||
Restricted Stock Units | (1) | 03/04/2019 | A | 57,604 | (3) | (3) | Common Stock | 57,604 | $ 0 | 57,604 | D | ||||
Stock Option (right to buy) | $ 2.17 | 03/04/2019 | A | 33,180 | (4) | 03/04/2029 | Common Stock | 33,180 | $ 0 | 33,180 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Campbell June C 1661 WORTHINGTON ROAD, SUITE 100 WEST PALM BEACH, FL 33409 |
EVP & Chief Financial Officer |
/s/ Michael J. Stanton, Attorney-in-Fact for June C. Campbell | 03/06/2019 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Each Restricted Stock Unit represents a contingent right to receive one share of OCN common stock. |
(2) | The Restricted Stock Units are scheduled to vest in three equal annual installments commencing March 4, 2020 subject to the reporting person's continued employment. |
(3) | If, on or before March 4, 2023, the average of the closing prices per share of OCN Common Stock for a period of twenty consecutive trading days, plus the amount of any dividends paid on a share of OCN Common Stock during the term of the award on or before the last day of that period, equals or exceeds $4.34, the restricted stock units will vest in four equal annual installments commencing March 4, 2020 (in each case, subject to the reporting person's continued employment, and if such date occurs before the date that the stock price-based vesting condition is satisfied, the vesting of that installment will occur on the satisfaction of the stock price-based vesting condition). |
(4) | The Stock Option is scheduled to vest in three equal annual installments commencing March 4, 2020 subject to the reporting person's continued employment. |