Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>
- Peter Lynch
What is insider trading>>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1 – Exit Filing)*
OCWEN FINANCIAL CORPORATION
(Name of Issuer)
Common Stock
(Title of Class of Securities)
675746309
(CUSIP Number)
December 31, 2019
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
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☐
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Rule 13d-1(b)
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☒
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Rule 13d-1(c)
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☐
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Rule 13d-1(d)
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*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures
provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however, see the Notes).
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CUSIP NO. 675746309
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Page 2 of 17 Pages
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1
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NAMES OF REPORTING PERSONS
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William C. Erbey
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||||
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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||||
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(a) ☒
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|||||
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(b) ☐
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|||
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3
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SEC USE ONLY
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||||
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
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U.S.A.
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|||
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||||
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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5
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SOLE VOTING POWER
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2,481,6891 (as of December 31, 2019)
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|||
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||||
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6
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SHARED VOTING POWER
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0 (as of December 31, 2019)
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||||
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7
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SOLE DISPOSITIVE POWER
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2,481,6891 (as of December 31, 2019)
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||||
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8
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SHARED DISPOSITIVE POWER
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0 (as of December 31, 2019)
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||||
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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2,481,689 (as of December 31, 2019)
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||||
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10
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CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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☐
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|||
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||||
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
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1.8%* (as of December 31, 2019)
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||||
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12
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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IN
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1 Includes 1,480,689 shares of Ocwen held by Munus, L.P., a Georgia limited partnership (“Munus”), in which Elaine Erbey, Mr. Erbey’s spouse (“Mrs. Erbey”), has a 0.18% preferred limited partner interest; The Community
Foundation of West Georgia, Inc., a Georgia nonprofit corporation (“CFWG”), has a 89.64% preferred limited partner interest with no right to vote or control the assets of Munus; Erbey Holding Corporation, Inc., a Delaware corporation (“Erbey
Holding”), has a 9% common limited partner interest; and Carisma Trust, a Nevada trust of which Venia, LLC, a Nevada limited liability company (“Venia”) is trustee, has a 1.0% general partner interest and a 0.18% preferred limited
partner interest. Also includes 1,000 shares of Ocwen held by Tribue Limited Partnership, a U.S. Virgin Islands limited partnership (“Tribue”), in which Mr. Erbey has a 0.1% general partner interest; Salt Pond Holdings, LLC, a U.S. Virgin
Islands limited liability company (“Salt Pond”), has a 9.9% common limited partner interest; and CFWG has a 90% preferred limited partner interest with no right to vote or control the assets of Tribue. The members of Salt Pond are Erbey
Holding (19.3%), Christiansted Trust (56.2%), a U.S. Virgin Islands trust (the “C-Trust”), and Frederiksted Trust (24.5%), a U.S. Virgin Islands trust (the “F-Trust” and together with Mr. Erbey, Mrs. Erbey, Erbey Holding, Munus,
Tribue, Salt Pond, the C-Trust, Carisma Trust and Venia, the “Reporting Persons”). Erbey Holding is wholly owned by Carisma Trust. The members of Venia are Mrs. Erbey, John Erbey (Mr. Erbey’s brother) and Andrew Burnett, although Mr. Erbey
is given sole investment and voting control over any securities owned by Venia or Carisma Trust. Mr. Erbey, John Erbey, Mrs. Erbey and Salt Pond are co-trustees of the C-Trust, with Mr. Erbey and Salt Pond having authority over investment decisions
of the C-Trust. Mr. Erbey, John Erbey, and Salt Pond are co-trustees of the F-Trust. Also includes options to acquire 1,000,000 shares of Ocwen which are exercisable on or within 60 days from December 31, 2019.
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CUSIP NO. 675746309
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Page 3 of 17 Pages
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1
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NAMES OF REPORTING PERSONS
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Christiansted Trust
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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||||
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(a) ☒
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|||||
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(b) ☐
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3
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SEC USE ONLY
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
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U.S. Virgin Islands
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||||
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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5
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SOLE VOTING POWER
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0 (as of December 31, 2019)
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|||
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||||
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6
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SHARED VOTING POWER
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1,0002 (as of December 31, 2019)
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||||
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7
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SOLE DISPOSITIVE POWER
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0 (as of December 31, 2019)
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|||
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||||
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8
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SHARED DISPOSITIVE POWER
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1,0002 (as of December 31, 2019)
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||||
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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1,000 (as of December 31, 2019)
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10
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CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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☐
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||||
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
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0%* (as of December 31, 2019)
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||||
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12
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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OO
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2 Includes 1,000 shares of Ocwen held by Tribue.
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CUSIP NO. 675746309
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Page 4 of 17 Pages
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1
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NAMES OF REPORTING PERSONS
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Frederiksted Trust
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2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
||||
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(a) ☒
|
|||||
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(b) ☐
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3
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SEC USE ONLY
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
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U.S. Virgin Islands
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|||
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||||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5
|
SOLE VOTING POWER
|
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0 (as of December 31, 2019)
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|
|||
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|
||||
|
6
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SHARED VOTING POWER
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||
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1,0003 (as of December 31, 2019)
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|||
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||||
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7
|
SOLE DISPOSITIVE POWER
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||
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0 (as of December 31, 2019)
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|||
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||||
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8
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SHARED DISPOSITIVE POWER
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1,0003 (as of December 31, 2019)
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|||
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||||
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9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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1,000 (as of December 31, 2019)
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|||
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||||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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||
|
☐
|
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|
|||
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|
||||
|
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
|
|
|
||
|
0%* (as of December 31, 2019)
|
|
|
|||
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|
||||
|
12
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
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OO
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|||
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||||
3 Includes 1,000 shares of Ocwen held by Tribue.
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CUSIP NO. 675746309
|
Page 5 of 17 Pages
|
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1
|
NAMES OF REPORTING PERSONS
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Salt Pond Holdings, LLC
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|||
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||||
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2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
||||
|
(a) ☒
|
|||||
|
(b) ☐
|
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|
|||
|
3
|
SEC USE ONLY
|
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||
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|||
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||||
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
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||
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U.S. Virgin Islands
|
|
|
|||
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|
||||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5
|
SOLE VOTING POWER
|
|
|
|
|
0 (as of December 31, 2019)
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|
|
|||
|
|
|
||||
|
6
|
SHARED VOTING POWER
|
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|
||
|
1,0004 (as of December 31, 2019)
|
|
|
|||
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|
||||
|
7
|
SOLE DISPOSITIVE POWER
|
|
|
||
|
0 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
8
|
SHARED DISPOSITIVE POWER
|
|
|
||
|
1,0004 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
|
1,000 (as of December 31, 2019)
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|
|
|||
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|
||||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
|
||
|
☐
|
|
|
|||
|
|
|
||||
|
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
|
|
|
||
|
0%* (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
12
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
|
OO
|
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|
|||
|
|
|
||||
4 Includes 1,000 shares of Ocwen held by Tribue.
|
CUSIP NO. 675746309
|
Page 6 of 17 Pages
|
|
1
|
NAMES OF REPORTING PERSONS
|
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|
||
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Tribue Limited Partnership
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|
|||
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|
||||
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2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
||||
|
(a) ☒
|
|||||
|
(b) ☐
|
|
|
|||
|
3
|
SEC USE ONLY
|
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|
||
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|
|||
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|
||||
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
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||
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|
||||
|
|
|
||||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5
|
SOLE VOTING POWER
|
|
|
|
|
0 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
6
|
SHARED VOTING POWER
|
|
|
||
|
1,000 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
7
|
SOLE DISPOSITIVE POWER
|
|
|
||
|
0 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
8
|
SHARED DISPOSITIVE POWER
|
|
|
||
|
1,000 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
|
1,000 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
|
||
|
☐
|
|
|
|||
|
|
|
||||
|
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
|
|
|
||
|
0%* (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
12
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
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|
||
|
PN
|
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|
|||
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|
||||
|
CUSIP NO. 675746309
|
Page 7 of 17 Pages
|
|
1
|
NAMES OF REPORTING PERSONS
|
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|
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Carisma Trust
|
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|
|||
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|
||||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
||||
|
(a) ☒
|
|||||
|
(b) ☐
|
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|
|||
|
3
|
SEC USE ONLY
|
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|
||
|
|
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|
|||
|
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|
||||
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
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||
|
Nevada
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|
|||
|
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|
||||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5
|
SOLE VOTING POWER
|
|
|
|
|
0 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
6
|
SHARED VOTING POWER
|
|
|
||
|
1,481,6895 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
7
|
SOLE DISPOSITIVE POWER
|
|
|
||
|
0 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
8
|
SHARED DISPOSITIVE POWER
|
|
|
||
|
1,481,6895 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
|
1,481,689 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
|
||
|
☐
|
|
|
|||
|
|
|
||||
|
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
|
|
|
||
|
1.1%* (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
12
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
|
OO
|
|
|
|||
|
|
|
||||
5 Includes 1,480,689 shares of Ocwen held by Munus and 1,000 shares of Ocwen held by Tribue.
|
CUSIP NO. 675746309
|
Page 8 of 17 Pages
|
|
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
|
Venia, LLC
|
|
|
|||
|
|
|
||||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
||||
|
(a) ☒
|
|||||
|
(b) ☐
|
|
|
|||
|
3
|
SEC USE ONLY
|
|
|
||
|
|
|
|
|||
|
|
|
||||
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
|
Nevada
|
|
|
|||
|
|
|
||||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5
|
SOLE VOTING POWER
|
|
|
|
|
0 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
6
|
SHARED VOTING POWER
|
|
|
||
|
1,481,6896 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
7
|
SOLE DISPOSITIVE POWER
|
|
|
||
|
0 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
8
|
SHARED DISPOSITIVE POWER
|
|
|
||
|
1,481,6896 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
|
1,481,689 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
|
||
|
☐
|
|
|
|||
|
|
|
||||
|
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
|
|
|
||
|
1.1%* (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
12
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
|
OO
|
|
|
|||
|
|
|
||||
6 Includes 1,480,689 shares of Ocwen held by Munus and 1,000 shares of Ocwen held by Tribue.
|
CUSIP NO. 675746309
|
Page 9 of 17 Pages
|
|
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
|
E. Elaine Erbey
|
|
|
|||
|
|
|
||||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
||||
|
(a) ☒
|
|||||
|
(b) ☐
|
|
|
|||
|
3
|
SEC USE ONLY
|
|
|
||
|
|
|
|
|||
|
|
|
||||
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
|
U.S.A.
|
|
|
|||
|
|
|
||||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5
|
SOLE VOTING POWER
|
|
|
|
|
0 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
6
|
SHARED VOTING POWER
|
|
|
||
|
1,481,6897 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
7
|
SOLE DISPOSITIVE POWER
|
|
|
||
|
0 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
8
|
SHARED DISPOSITIVE POWER
|
|
|
||
|
1,481,6897 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
|
1,481,689 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
|
||
|
☐
|
|
|
|||
|
|
|
||||
|
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
|
|
|
||
|
1.1%* (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
12
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
|
IN
|
|
|
|||
|
|
|
||||
7 Includes 1,480,689 shares of Ocwen held by Munus and 1,000 shares of Ocwen held by Tribue.
|
CUSIP NO. 675746309
|
Page 10 of 17 Pages
|
|
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
|
Munus, L.P.
|
|
|
|||
|
|
|
||||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
||||
|
(a) ☒
|
|||||
|
(b) ☐
|
|
|
|||
|
3
|
SEC USE ONLY
|
|
|
||
|
|
|
|
|||
|
|
|
||||
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
|
Georgia
|
|
|
|||
|
|
|
||||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5
|
SOLE VOTING POWER
|
|
|
|
|
0 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
6
|
SHARED VOTING POWER
|
|
|
||
|
1,480,689 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
7
|
SOLE DISPOSITIVE POWER
|
|
|
||
|
0 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
8
|
SHARED DISPOSITIVE POWER
|
|
|
||
|
1,480,689 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
|
1,480,689 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
|
||
|
☐
|
|
|
|||
|
|
|
||||
|
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
|
|
|
||
|
1.1%* (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
12
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
|
PN
|
|
|
|||
|
|
|
||||
|
CUSIP NO. 675746309
|
Page 11 of 17 Pages
|
|
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
|
Erbey Holding Corporation, Inc.
|
|
|
|||
|
|
|
||||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
||||
|
(a) ☒
|
|||||
|
(b) ☐
|
|
|
|||
|
3
|
SEC USE ONLY
|
|
|
||
|
|
|
|
|||
|
|
|
||||
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
|
Delaware
|
|
|
|||
|
|
|
||||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
5
|
SOLE VOTING POWER
|
|
|
|
|
0 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
6
|
SHARED VOTING POWER
|
|
|
||
|
1,481,6898 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
7
|
SOLE DISPOSITIVE POWER
|
|
|
||
|
0 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
8
|
SHARED DISPOSITIVE POWER
|
|
|
||
|
1,481,6898 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
|
1,481,689 (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
|
||
|
☐
|
|
|
|||
|
|
|
||||
|
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
|
|
|
||
|
1.1%* (as of December 31, 2019)
|
|
|
|||
|
|
|
||||
|
12
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
|
CO
|
|
|
|||
|
|
|
||||
8 Includes 1,000 shares of Ocwen held by Tribue and 1,480,689 shares of Ocwen held by Munus.
* The ownership percentage for each Reporting Person as of December 31, 2019 is based upon 134,771,626 shares of Ocwen outstanding as of November 1, 2019 according to Ocwen’s Quarterly Report on Form 10-Q filed with the Securities and Exchange
Commission (the “SEC”) on November 5, 2019. For Mr. Erbey, 1,000,000 shares of common stock, which were exercisable on or within 60 days after December 31, 2019 have been added to the shares outstanding to arrive at a total number of shares
outstanding of 135,771,626 for purposes of calculating his beneficial ownership only.
|
CUSIP NO. 675746309
|
Page 12 of 17 Pages
|
| Item 1(a). |
Name of Issuer:
|
Ocwen Financial Corporation (“Ocwen”).
| Item 1(b). |
Address of the Issuer’s Principal Executive Offices:
|
1661 Worthington Road
Suite 100
West Palm Beach, Florida 33409
| Item 2(a). |
Name of Person Filing
|
The Statement is filed on behalf of each of the following persons (collectively, the “Reporting Persons”):
| i) |
William C. Erbey (“Mr. Erbey”);
|
| ii) |
E. Elaine Erbey (“Mrs. Erbey”)
|
| iii) |
Christiansted Trust (the “C-Trust”);
|
| iv) |
Frederiksted Trust (the “F-Trust”);
|
| v) |
Carisma Trust;
|
| vi) |
Venia, LLC (“Venia”);
|
| vii) |
Salt Pond Holdings, LLC (“Salt Pond”);
|
| viii) |
Tribue Limited Partnership (“Tribue”);
|
| iv) |
Munus, L.P. (“Munus”); and
|
| x) |
Erbey Holding Corporation (“Erbey Holding”).
|
This statement relates to Shares (as defined in Item 2(d) below) beneficially owned by Mr. Erbey. The C-Trust, the F-Trust and Carisma Trust are irrevocable non-grantor trusts. Venia serves as a trustee of the
Carisma Trust for the benefit of the spouse of Mr. Erbey. Salt Pond is a service business providing merchant banking services and family office services, which encompass trading in stocks or securities and possibly financing operations for
businesses. Each of Tribue and Munus is a charitable remainder trust. Erbey Holding is a holding company for the investment of securities. The partners of Tribue are Mr. Erbey, Salt Pond, and The Community Foundation of West Georgia, Inc., a
Georgia nonprofit corporation (“CFWG”). The members of Salt Pond are Erbey Holding, the C-Trust and the F-Trust. Erbey Holding is wholly owned by Carisma Trust. The co-trustees of the C-Trust are Mr. Erbey, Mrs. Erbey, John Erbey and Salt
Pond, with Mr. Erbey and Salt Pond having authority over investment decisions. The co-trustees of the F-Trust are Mr. Erbey, John Erbey and Salt Pond. The partners of Munus are Mrs. Erbey, Carisma Trust, CFWG, and Erbey Holding.
| Item 2(b). |
Address of Principal Business Office or, if None, Residence:
|
Mr. Erbey and Mrs. Erbey’s business address is P.O. Box 25437, Christiansted, VI 00824. The principal office of the C-Trust is P.O. Box 25390, Christiansted, VI 00824. The principal office of the F-Trust is P.O. Box
25390, Christiansted, VI 00824. The principal office of Carisma Trust and Venia is 5348 Vegas Drive, Suite C, Las Vegas, Nevada 89108. The principal office of Salt Pond is P.O. Box 25437, Christiansted, VI 00824. The principal office of Tribue
is P.O. Box 25437, Christiansted, VI 00824. The principal office of Munus is 75 14th Street NE, Suite 2200, Atlanta, Georgia, 30309. The principal office of Erbey Holding is P.O. Box 25437, Christiansted, VI 00824.
|
CUSIP NO. 675746309
|
Page 13 of 17 Pages
|
| Item 2(c). |
Citizenship:
|
| i) |
Mr. Erbey is a United States citizen;
|
| ii) |
Mrs. Erbey is a United States citizen;
|
| iii) |
The C-Trust is a U.S. Virgin Islands trust;
|
| iv) |
The F-Trust is a U.S. Virgin Islands trust;
|
| v) |
Carisma Trust is a Nevada trust;
|
| vi) |
Venia is a Nevada limited liability company;
|
| vii) |
Salt Pond is a U.S. Virgin Islands limited liability company;
|
| viii) |
Tribue is a U.S. Virgin Islands limited partnership;
|
| iv) |
Munus is a Georgia limited partnership; and
|
| x) |
Erbey Holding is a Delaware corporation.
|
| Item 2(d). |
Title of Class of Securities:
|
Common Stock, par value $0.01 per share (the “Shares”).
| Item 2(e). |
CUSIP Number:
|
675746309
| Item 3. |
If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:
|
This Item 3 is not applicable.
| Item 4. |
Ownership:
|
| Item 4(a). |
Amount Beneficially Owned as of 12/31/2019:
|
Munus, for which Mr. Erbey retains management of the assets of, is the beneficial owner of 1,480,689 Shares of Ocwen. Tribue, for which Mr. Erbey retains management of the assets of, is the beneficial owner of 1,000
Shares of Ocwen. Mr. Erbey controls Munus, the F-Trust, Salt Pond and Tribue and has full investment discretion of Shares beneficially owned by the C-Trust, Carisma Trust, Venia and Erbey Holding. Therefore, Mr. Erbey is the beneficial owner of
1,481,689 Shares of Ocwen held indirectly through these entities plus options to acquire 1,000,000 Shares of Ocwen which are exercisable on or within 60 days from December 31, 2019.
Mr. Erbey: 2,481,689
Mrs. Erbey: 1,481,689
The C-Trust: 1,000
The F-Trust: 1,000
Carisma Trust: 1,481,689
Venia: 1,481,689
Salt Pond: 1,000
Tribue: 1,000
Munus: 1,480,689
Erbey Holding: 1,481,689
|
CUSIP NO. 675746309
|
Page 14 of 17 Pages
|
| Item 4(b). |
Percent of Class:
|
Mr. Erbey: 1.8%
Mrs. Erbey: 1.1%
The C-Trust: 0%
The F-Trust: 0%
Carisma Trust: 1.1%
Venia: 1.1%
Salt Pond: 0%
Tribue: 0%
Munus: 1.1%
Erbey Holding: 1.1%
The percentages in the immediately preceding list have been calculated based on a total of 134,771,626 shares of Ocwen outstanding as of November 1, 2019 according to Ocwen’s Quarterly Report on Form 10-Q filed with
the SEC on November 5, 2019. For Mr. Erbey, 1,000,000 shares of common stock, which were exercisable on or within 60 days after December 31, 2019 have been added to the shares outstanding to arrive at a total number of shares outstanding of
135,771,626 for purposes of calculating his beneficial ownership only.
| Item 4(c). |
Number of shares as to which the person has:
|
| (i) |
Sole power to vote or direct the vote
|
Mr. Erbey: 2,481,689
Mrs. Erbey: 0
The C-Trust: 0
The F-Trust: 0
Carisma Trust: 0
Venia: 0
Salt Pond: 0
Tribue: 0
Munus: 0
Erbey Holding: 0
| (ii) |
Shared power to vote or direct the vote
|
Mr. Erbey: 0
Mrs. Erbey: 1,481,689
The C-Trust: 1,000
The F-Trust: 1,000
Carisma Trust: 1,481,689
Venia: 1,481,689
Salt Pond: 1,000
Tribue: 1,000
Munus: 1,480,689
Erbey Holding: 1,481,689
| (iii) |
Sole power to dispose or to direct the disposition of
|
Mr. Erbey: 2,481,689
Mrs. Erbey: 0
The C-Trust: 0
The F-Trust: 0
Carisma Trust: 0
Venia: 0
Salt Pond: 0
Tribue: 0
Munus: 0
Erbey Holding: 0
|
CUSIP NO. 675746309
|
Page 15 of 17 Pages
|
| (iv) |
Shared power to dispose or to direct the disposition of
|
Mr. Erbey: 0
Mrs. Erbey: 1,481,689
The C-Trust: 1,000
The F-Trust: 1,000
Carisma Trust: 1,481,689
Venia: 1,481,689
Salt Pond: 1,000
Tribue: 1,000
Munus: 1,480,689
Erbey Holding: 1,481,689
| Item 5. |
Ownership of Five Percent or Less of a Class:
|
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following . ☒
| Item 6. |
Ownership of More than Five Percent on Behalf of Another Person:
|
This Item 6 is not applicable.
| Item 7. |
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company:
|
See Item 4(a) above.
| Item 8. |
Identification and Classification of Members of the Group:
|
This Item 8 is not applicable.
| Item 9. |
Notice of Dissolution of Group:
|
This Item 9 is not applicable.
| Item 10. |
Certification:
|
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control
of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
|
CUSIP NO. 675746309
|
Page 16 of 17 Pages
|
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
|
Date: February 13, 2020
|
William C. Erbey
|
|
|
By:
|
/s/ William C. Erbey | |
|
Date: February 13, 2020
|
E. Elaine Erbey
|
|
|
By:
|
/s/ E. Elaine Erbey | |
|
Date: February 13, 2020
|
Christiansted Trust
|
||
|
By:
|
/s/ William C. Erbey | ||
|
William C. Erbey
|
|||
|
Co-Trustee
|
|||
|
By:
|
/s/ E. Elaine Erbey | ||
|
E. Elaine Erbey
|
|||
|
Co-Trustee
|
|||
|
By:
|
/s/ John R. Erbey | ||
|
John R. Erbey
|
|||
|
Co-Trustee
|
|||
|
By:
|
/s/ William C. Erbey | ||
|
Salt Pond Holdings, LLC
|
|||
|
Co-Trustee
|
|||
|
Signed by:
|
William C. Erbey
|
||
|
Title:
|
President
|
||
|
Date: February 13, 2020
|
Frederiksted Trust
|
||
|
By:
|
/s/ William C. Erbey | ||
|
William C. Erbey
|
|||
|
Co-Trustee
|
|||
|
By:
|
/s/ John R. Erbey | ||
|
John R. Erbey
|
|||
|
Co-Trustee
|
|||
|
By:
|
/s/ William C. Erbey | ||
|
Salt Pond Holdings, LLC
|
|||
|
Co-Trustee
|
|||
|
Signed by:
|
William C. Erbey
|
||
|
Title:
|
President
|
||
|
CUSIP NO. 675746309
|
Page 17 of 17 Pages
|
|
Date: February 13, 2020
|
Carisma Trust
|
||
|
By:
|
Venia, LLC, its Sole Trustee
|
||
|
By:
|
/s/ E. Elaine Erbey | ||
|
E. Elaine Erbey
|
|||
|
Member
|
|||
|
Date: February 13, 2020
|
Venia, LLC
|
|
|
By:
|
/s/ E. Elaine Erbey | |
|
E. Elaine Erbey
|
||
|
Member
|
||
|
Date: February 13, 2020
|
Salt Pond Holdings, LLC
|
|
|
By:
|
/s/ William C. Erbey | |
|
William C. Erbey
|
||
|
President
|
||
|
Date: February 13, 2020
|
Tribue Limited Partnership
|
|
|
By:
|
/s/ William C. Erbey | |
|
William C. Erbey
|
||
|
General Partner
|
||
|
Date: February 13, 2020
|
Munus, L.P.
|
|||
|
By:
|
Carisma Trust, its General Partner
|
|||
|
By:
|
Venia, LLC, Carisma Trust’s Sole Trustee
|
|||
|
By:
|
/s/ E. Elaine Erbey
|
|||
|
E. Elaine Erbey
|
||||
|
Member
|
||||
|
Date: February 13, 2020
|
Erbey Holding Corporation
|
|||
|
By:
|
Carisma Trust, its Sole Shareholder
|
|||
|
By:
|
Venia, LLC, Carisma Trust’s Sole Trustee
|
|||
|
By:
|
/s/ E. Elaine Erbey
|
|||
|
E. Elaine Erbey
|
||||
|
Member
|
||||