Rithm Capital (RITM) just unveiled an update.
Rithm Capital Corp. has revised its employment agreement with Michael Nierenberg, cutting his base salary from $1.25 million to $1 million and decreasing his annual cash bonus target from $5 million to $4 million. Simultaneously, the company adjusted Nierenberg’s equity awards, lowering the value of time-based awards from $4.375 million to $3 million, while significantly increasing performance-based awards from $4.375 million to $9 million, emphasizing a shift towards performance-driven compensation.
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