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As Ocwen Shares Increase in Value, CEO and GC Amass Stock Options

DEC 6, 2012 12:14pm ET
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Ocwen CEO Bill Erby and general counsel Paul Koches of late have been busy amassing stock options and in some cases selling, according to recent documents filed with the Securities and Exchange Commission.

Erby filed an SEC Form 4 on Nov. 27, Koches on the last day of the month. In one transaction Erby took control of 50,813 options at a price of $1.69.

The company’s share price is trading a few dollars below its 52-week high of $39.83.

Erby controls Ocwen stock/derivatives through several vehicles including FF Plaza Limited Partnership and Erby Holdings.

However, there is no color on the exact nature of the options. The SEC Form 4 is marked with an “A” which means the options were either granted, awarded or obtained in some other manner. (Many public companies award options, stock and other financial instruments as incentive compensation.)

Earlier this week Ocwen agreed to install an outside monitor at the company to audit a consent agreement it has with the New York Department of Financial Institutions.

The state had accused the publicly traded mortgage company of servicing abuses.

At deadline a spokesman for Ocwen did not return a telephone call and email.

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