Company: RITM-PC
Filing Date: 2025-12-19
Form Type: 8-K
Source: 0001140361-25-046188
Chunk: 2

Company: Rithm Capital Corp.
Filing Date: 2025-12-19
Form: 8-K
Item: Item 2.01
Chunk 2
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 award did not otherwise vest in full as a consequence of the Mergers pursuant to its
terms) and (ii) each award of appreciation only Operating Partnership LTIP Units (the “ Operating Partnership AOLTIP Units”) that was subject to vesting based on the achievement of certain performance goals,
and that was unvested and outstanding immediately prior to the Partnership Merger Effective Time, vested in full (with the applicable performance goals being deemed satisfied at the “maximum” level of performance). Subject to certain exceptions,
all Operating Partnership LTIP Units and all Operating Partnership AOLTIP Units vested and outstanding immediately prior to the Partnership Merger Effective Time were converted into Operating Partnership Common Units based on the applicable
conversion factor set forth in the OP Agreement and such Operating Partnership Common Units were cancelled and converted into the right to receive the Partnership Merger Consideration. Certain Operating Partnership LTIP Units were cancelled and
converted into the right to receive an amount in cash equal to the product of (x) the applicable conversion factor set forth in the OP Agreement and (y) the Company Merger Consideration (subject to applicable tax withholding), without interest.

Following the completion of the Mergers, the Operating Partnership and REIT Merger Sub (as the surviving entity of the Company Merger) became
indirect wholly owned subsidiaries of Rithm. The consideration paid by Rithm in the Transaction was funded through a combination of cash on hand and a $50,000,000 equity investment from Rithm Property Trust Inc., which is externally managed by an
affiliate of Rithm.

The foregoing descriptions of the Merger Agreement and the Mergers are only summaries, do not purport to be, complete and are qualified in their
entirety by reference to, the full text of the Merger Agreement, a copy of which is filed as Exhibit 2.1 to this Current Report on Form 8-K and is incorporated herein by reference.