Form 8-K - Current report
December 16 2024 - 3:30PM
Edgar (US Regulatory)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
Date of report (Date of earliest event reported): December 16,
2024 (December 12, 2024)
Mr. Cooper Group Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware |
001-14667 |
91-1653725 |
(State or Other Jurisdiction
of Incorporation) |
(Commission File Number) |
(I.R.S. Employer
Identification Number) |
8950 Cypress Waters Boulevard
Coppell, Texas 75019
(Address of Principal Executive Offices)
(469) 549-2000
(Registrant’s Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Common Stock, $0.01 par value per share |
COOP |
The Nasdaq Stock Market |
Indicate by check mark whether the registrant is an emerging growth company as defined
in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected
not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section
13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 12, 2024, the Board of Directors (the “Board”) of
Mr. Cooper Group Inc. (the “Company”) appointed Andrew Bon Salle as a Director of the Company effective
January 1, 2025, for a term expiring at the Company’s 2025 annual meeting of stockholders.
Mr. Bon Salle has more than 30 years of experience in capital markets, risk management, securitization
and mortgage policy leadership within the home lending sector. Mr. Bon Salle has served as President of the Bon Salle Group since December
2020. He served as Chairman of the Board of Directors of Home Point Capital Inc. from January 2021 until its acquisition by the Company
in August 2023. From 2014 through December 2020, Mr. Bon Salle served as Executive Vice President-Single Family Mortgage
Business for Federal National Mortgage Association (“Fannie Mae”), where he oversaw capital market
functions, managed customer engagement for more than 2,000 clients and partners, directed the performance of a $3.5 trillion credit portfolio
and led the digital products group. He joined Fannie Mae in November 1992 and, prior to leading the agency’s single-family
mortgage business, served as Senior Vice President-Single-Family Underwriting, Pricing and Capital Markets and in other executive roles.
For his service on the Board, Mr. Bon Salle will receive a $125,000 annual fee for each
twelve-month period that he serves on the Board paid semi-annually. On May 22, 2025, the date of the Company’s annual stockholders
meeting, Mr. Bon Salle will be granted restricted stock units with a fair market value of $125,000 and will receive an additional grant
of $41,667 of restricted stock units for his service on the Board from January through April. The restricted stock units vest on the earlier
of (i) the first anniversary of the grant date or (ii) the date of the Company’s next annual stockholders meeting following
the grant date.
A copy of the press release announcing Mr. Bon Salle’s appointment is attached as Exhibit 99.1
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Mr. Cooper Group Inc. |
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Date: December 16, 2024 |
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By: |
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/s/Kurt G. Johnson |
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Kurt G. Johnson
EVP & Chief Financial Officer |
Exhibit 99.1
Mr. Cooper Group Adds Former
Fannie Mae Executive and Industry Veteran Andrew Bon Salle to Board of Directors
Dallas, Texas – (December 16,
2024) – Mr. Cooper Group Inc. (NASDAQ: COOP) announced
today the appointment of Andrew Bon Salle to its board of directors, effective January 1, 2025.
Bon Salle brings more than 30 years of
experience in capital markets, risk management, securitization and mortgage policy leadership within the home lending sector. Most recently,
he served as Chairman of the Board of Directors of Home Point Capital Inc. Prior to that, he was Executive
Vice President of the Single-Family Mortgage business at Fannie Mae where he oversaw capital market functions, managed customer engagement
for more than 2,000 clients and partners, directed the performance of a $3.5 trillion credit portfolio and led the digital products group.
“Andrew’s exceptional track record in driving
business strategy and transformation, combined with his extensive leadership experience in the mortgage industry, makes him an invaluable
addition to our board,” said Jay Bray, Chairman and CEO of Mr. Cooper Group. “We are pleased to welcome him as we advance
our strategic vision and continue to build an industry-leading homeownership experience for our customers.”
“I am thrilled to join the Mr. Cooper Group board
and contribute to the ongoing evolution of the homeownership journey while supporting and mentoring the next generation of industry leaders,”
said Bon Salle. “Mr. Cooper has been a transformative force in the mortgage industry, and I’m honored to help advance its
mission of making the dream of homeownership a reality for all Americans.”
About Mr. Cooper Group
Mr. Cooper Group Inc. (NASDAQ: COOP) provides customer-centric
servicing, origination and transaction-based services related principally to single-family residences throughout the United States with
operations under its primary brands: Mr. Cooper®, Xome® and Rushmore Servicing®. Mr. Cooper is the largest home loan servicer
in the country focused on delivering a variety of servicing and lending products, services and technologies. For more information, visit
www.mrcoopergroup.com.
Media Inquiries:
MediaRelations@mrcooper.com
Investor Inquiries:
Shareholders@mrcooper.com
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