Company: RITM-PC
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001104659-25-033195
Chunk: 42

Company: Rithm Capital Corp.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 42
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, which are intended to further align the interests of our named executive officers with those of our stockholders generally. As described below, these awards are subject to vesting terms, which include continued employment with the Company for specified periods of time, and in certain cases, the achievement of specified performance criteria. The Compensation Committee granted equity compensation to Messrs. Santoro and Sivin in February 2024 and to Mr. Nierenberg in March 2024 in connection with performance for the 2023 fiscal year, using a combination of time-vesting and performance-vesting Class B Profits Units of Rithm Capital Management LLC (“RCM”) designated as “Share-Settled Awards.” Additionally, pursuant to Mr. Zeiden’s employment agreement with the Company, Mr. Zeiden was granted awards of time-vesting Class B Profits Units of RCM designated as “Share-Settled Awards” in May 2024. Awards of Class B Profits Units that are designated as “Share-Settled Awards” will be exchangeable into shares of our Common Stock in accordance with the terms and conditions set forth in the individual award agreement. These Class B Profits Units are 27 TABLE OF CONTENTS intended to be generally economically equivalent to the time-vesting and performance-vesting restricted stock units granted in 2023, except that they are structured as “profits interests” for U.S. federal income tax purposes under current federal income tax law. As profits interests, the Class B Profits Units generally only have value if the value of the assets of RCM increases between the issuance of the Class B Profits Units and the date of a book-up event for partnership tax purposes. If the value of the assets of RCM increases sufficiently, the Class B Profits Units are redeemable, subject to the satisfaction of applicable vesting conditions, by the holder for cash, or on a one-for-one basis into shares of our common stock, at our election. Long-term equity incentive grant values and award type mix were as follows for each named executive officer: • For Mr. Nierenberg, the target grant date fair value of his 2024 equity awards was $12,000,000. As previously described, the Compensation Committee decided to reallocate Mr. Nierenberg’s target pay opportunity for 2024 by reducing the cash compensation opportunity and increasing the long-term incentive opportunity from 2023 target levels in order to more strongly align his compensation to long-term performance and stockholder