James S Levin, Och-Ziff Capital Management Group LLC's Co-CIO and Head of Glbl Credit, recently disposed of 35,000,000 shares of the company. The disposals took place at $0.00 per share, on February 16, 2018. Levin now owns just 17,710,494 shares of the company. Levin operates out of New York, NY. Some additional info was provided as follows:
Class B Shares of Och-Ziff Capital Management Group LLC (the "Issuer") entitle the holder to one vote per share and generally vote together with the Class A Shares of the Issuer as a single class on matters submitted to a vote of security holders. The Class B Shares do not represent any economic interest in the Issuer (or any of its affiliates).
The forfeitures and acquisitions disclosed herein were made in connection with a mod
ification of the terms of the Reporting Person's Oz Operating Group partnership interests and compensation. In addition to the forfeitures described herein, the Reporting Person also forfeited 29,000,000 Group P Units and 42,500,000 Group D Units.
Pursuant to an exchange agreement, the Reporting Person may, subject to the vesting and minimum retained ownership requirements and transfer restrictions set forth in the partnership agreements of the Oz Operating Group, exchange Group A Units for Class A Shares of the Company on a one-for-one basis, subject to exchange rate adjustments for splits, distributions and reclassifications. Upon the exchange of one Group A Unit for one Class A Share, one Class B Share will be canceled for no consideration.
The Group A Units and RSUs listed here are held in trusts. Pursuant to Rule 16a-1(a)(4) of the Securities Exchange Act of 1934, as amended, the Reporting Person herein states that this filing shall not be deemed an admission that he or any trust is the beneficial owner of any such interests, and disclaims beneficial ownership of such interests, except to the extent of his pecuniary interest therein.
Each Class A Restricted Share Unit ("RSU") 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.
These RSUs vest, subject to certain limited exceptions, as follows: 3,900,000 on December 31, 2018, and the remaining 9,500,000 vest in five equal installments on December 31st of each year, with the final tranche vesting on December 31, 2022.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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