Robert Scott Shafir, Och-Ziff Capital Management Group LLC's Chief Executive Officer and a director of the company, just received 23,992,032 restricted shares from the company. The restricted shares don't become available to Shafir until such time as they become vested. Shafir now owns at least 23,992,032 restricted shares of the company.
Some additional info was provided as follows:
Each Class A Restricted Share Unit represents, at the election of the administrator of the applicable plan (currently the Issuer's Compensation Committee), a right to receive one of the Issuer's Class A Shares or the cash value thereof, upon the vesting date.
The Class A Restricted Share Units vest, subject to certain limited exceptions, in equal installments on February 5, 2019, Fe
bruary 5, 2020, February 5, 2021 and February 5, 2022.
Each Class A Performance-Based Restricted Share Unit ("PSU") represents, at the election of the administrator of the applicable plan (currently the Issuer's Compensation Committee), a right to receive one of the Issuer's Class A Shares or the cash value thereof, if: (i) Mr. Shafir has continued in uninterrupted service until the third anniversary of the grant date (the "Service Condition"), and (ii) on or after such date, the total shareholder return on Class A Shares of the Issuer based on the average closing price on the New York Stock Exchange for the 10 trading days immediately following January 30, 2018 (the date of the public announcement of the appointment of Mr. Shafir as CEO) equals or exceeds the Performance Thresholds, as defined below (the "Performance Condition"). If a PSU has not satisfied both the Service Condition and the Performance Condition by the sixth anniversary of the grant date, it will be forfeited and canceled immediately.
The Performance Condition, as defined in footnote (3), is defined as follows: 20% of PSUs vest if a total shareholder return of 25% is achieved; an additional 40% of PSUs vest if a total shareholder return of 50% is achieved; an additional 20% of PSUs vest if a total shareholder return of 75% is achieved; and the final 20% of PSUs vest if a total shareholder return of 125% is achieved. In each case, the Performance Condition must be met for each threshold by the sixth anniversary of the grant date.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
To receive a free e-mail notification whenever Och-Ziff Capital Management Group LLC makes a similar move, sign up!
Other recent filings from the company include the following:
Securities registration termination [Section 12(b)] - May 20, 2019
Och-Ziff Capital Management Group LLC's Chief Financial Officer just disposed of 19,531 shares - May 15, 2019
Other definitive proxy statements - May 15, 2019
Additional definitive proxy soliciting materials and Rule 14(a)(12) material - May 15, 2019
Securities to be offered to employees in employee benefit plans - May 14, 2019