Rithm Capital Management

Management criteria checks 1/4

Rithm Capital's CEO is Michael Nierenberg, appointed in Nov 2013, has a tenure of 10.75 years. total yearly compensation is $20.16M, comprised of 6.2% salary and 93.8% bonuses, including company stock and options. directly owns 0.34% of the company’s shares, worth $19.32M. The average tenure of the management team and the board of directors is 0.8 years and 9.5 years respectively.

Key information

Michael Nierenberg

Chief executive officer

US$20.2m

Total compensation

CEO salary percentage	6.2%
CEO tenure	10.8yrs
CEO ownership	0.3%
Management average tenure	less than a year
Board average tenure	9.5yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Michael Nierenberg's remuneration changed compared to Rithm Capital's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	n/a	n/a	US$581m
Mar 31 2024	n/a	n/a	US$725m
Dec 31 2023	US$20m	US$1m	US$533m
Sep 30 2023	n/a	n/a	US$702m
Jun 30 2023	n/a	n/a	US$632m
Mar 31 2023	n/a	n/a	US$272m
Dec 31 2022	US$9m	US$654k	US$865m

Compensation vs Market: Michael's total compensation ($USD20.16M) is above average for companies of similar size in the UK market ($USD3.59M).

Compensation vs Earnings: Michael's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Michael Nierenberg (61 yo)

10.8yrs

Tenure

US$20,160,023

Compensation

Mr. Michael Nierenberg is Chief Executive Officer and Director of Great Ajax Corp. from June 11, 2024. Mr. Nierenberg was Independent Director of Great Ajax Corp. from May 20, 2024 to June 11, 2024. Mr. Ni...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Michael Nierenberg	Chairman	10.8yrs	US$20.16m	0.34% $ 19.3m
Nicola Santoro	CFO, Chief Accounting Officer & Treasurer	8.9yrs	US$2.68m	no data
Philip Sivin	MD & Chief Counsel for M&A and strategic transactions	less than a year	US$1.47m	0.0013% $ 76.3k
David Zeiden	Chief Legal Officer	less than a year	no data	no data
Charles Sorrentino	Managing Director	no data	no data	no data
Varun Wadhawan	Managing Director	no data	no data	no data
Sanjeev Khanna	Managing Director	no data	no data	no data
Kenneth Bruce	Managing Director	less than a year	no data	no data
Satish Mansukhani	Managing Director of Investment Strategy	1.3yrs	no data	no data
Martin Migliara	Managing Director	no data	no data	no data
Peter Sibilia	Managing Director	no data	no data	no data
Paul Gross	Managing Director	no data	no data	no data

0.8yrs

Average Tenure

54yo

Average Age

Experienced Management: 0K76's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Michael Nierenberg	Chairman	10.8yrs	US$20.16m	0.34% $ 19.3m
David Saltzman	Independent Director	11.3yrs	US$295.00k	0.023% $ 1.3m
Kevin Finnerty	Independent Director	11.3yrs	US$285.00k	0.065% $ 3.7m
Peggy Hwan Hebard	Independent Director	1.6yrs	US$287.00k	0.013% $ 762.7k
Andrew Sloves	Independent Director	8.2yrs	US$285.00k	0.043% $ 2.5m
Patrice Le Melle	Independent Director	2.8yrs	US$275.00k	0.0083% $ 478.3k

9.5yrs

Average Tenure

61.5yo

Average Age

Experienced Board: 0K76's board of directors are considered experienced (9.5 years average tenure).

Rithm Capital Management

Management criteria checks 1/4

Key information

Recent management updates

Rithm Capital Corp., Annual General Meeting, May 23, 2024

Rithm Capital Corp. Announces Hire of Satish Mansukhani as Managing Director in Investment Strategy

Rithm Capital Corp. Appoints Kenneth Bruce as Managing Director; Investor Relations

Rithm Capital Corp. Elects Peggy Hwan Hebard to the Board of Directors

Rithm Capital Corp. Announces Resignation of Robert J. Mcginnis as Director

Insufficient new directors

Recent updates

Rithm Capital Corp. announced delayed 10-Q filing

Second quarter 2024 earnings released: EPS: US$0.44 (vs US$0.74 in 2Q 2023)

Rithm Capital Corp. to Report Q2, 2024 Results on Jul 31, 2024

First quarter dividend of US$0.25 announced

Rithm Capital Corp. Declares a Dividend for the Second Quarter 2024, Payable on July 26, 2024

First quarter 2024 earnings released: EPS: US$0.56 (vs US$0.14 in 1Q 2023)

Rithm Capital Corp. to Report Q1, 2024 Results on Apr 30, 2024

Rithm Capital Corp., Annual General Meeting, May 23, 2024

Fourth quarter dividend of US$0.25 announced

Rithm Capital Corp. Declares Dividend on Common Stock for the First Quarter 2024, Payable on April 26, 2024

Full year 2023 earnings released: EPS: US$1.11 (vs US$1.85 in FY 2022)

Rithm Capital Corp. (NYSE:RITM) announces an Equity Buyback for $200 million worth of its shares.

Rithm Capital Corp. to Report Q4, 2023 Results on Feb 07, 2024

Upcoming dividend of US$0.25 per share at 9.1% yield

Rithm Capital Corp. Declares Fourth Quarter 2023 Common Dividend, Payable on January 26, 2024

Rithm Capital Corp. (NYSE:RITM) completed the acquisition of Sculptor Capital Management, Inc. (NYSE:SCU) from shareholders.

Rithm Capital Corp.(NYSE:RITM) dropped from S&P Global BMI Index

New major risk - Revenue and earnings growth

New major risk - Revenue and earnings growth

Third quarter 2023 earnings released: EPS: US$0.40 (vs US$0.27 in 3Q 2022)

Rithm Capital Corp. to Report Q3, 2023 Results on Oct 26, 2023

Upcoming dividend of US$0.25 per share at 10% yield

Rithm Capital Corp. (NYSE:RITM), American Real Estate Partners and GreenBarn Investment Group acquired Luxury 200-unit subdivision of townhomes in Ashburn, Virginia from Dream Finders Homes, Inc. (NYSE:DFH) for approximately $120 million.

Rithm Capital Corp. (NYSE:RITM), American Real Estate Partners and GreenBarn Investment Group acquired Luxury 200-unit subdivision of townhomes in Ashburn, Virginia from Dream Finders Homes, Inc. (NYSE:DFH) for approximately $120 million.

New major risk - Revenue and earnings growth

Now 21% undervalued

New major risk - Revenue and earnings growth

Second quarter 2023 earnings released: EPS: US$0.77 (vs US$0.007 loss in 2Q 2022)

Rithm Capital Corp. (NYSE:RITM) entered into a definitive agreement to acquire Sculptor Capital Management, Inc. (NYSE:SCU) from shareholders for approximately $700 million.

Rithm Capital Corp. (NYSE:RITM) entered into a definitive agreement to acquire Sculptor Capital Management, Inc. (NYSE:SCU) from shareholders for approximately $700 million.

Rithm Capital Corp. to Report Q2, 2023 Results on Aug 02, 2023

Rithm Capital Declares Quarterly Dividend Payable on July 28, 2023

Rithm Capital Corp. Announces Hire of Satish Mansukhani as Managing Director in Investment Strategy

First quarter 2023 earnings released: EPS: US$0.14 (vs US$1.42 in 1Q 2022)

Full year 2022 earnings released: EPS: US$1.85 (vs US$1.56 in FY 2021)

Rithm Capital Corp. to Report Q4, 2022 Results on Feb 08, 2023

Rithm Capital Corp. Appoints Kenneth Bruce as Managing Director; Investor Relations

Rithm Capital Corp. Elects Peggy Hwan Hebard to the Board of Directors

Upcoming dividend of US$0.25 per share

Rithm Capital Corp. Announces Resignation of Robert J. Mcginnis as Director

Rithm Capital Corp. (NYSE:RITM) announces an Equity Buyback for $200 million worth of its shares.

Insufficient new directors

Third quarter 2022 earnings released: EPS: US$0.27 (vs US$0.31 in 3Q 2021)

Rithm Capital Corp. (NYSE:RITM) entered into an agreement to acquire a 50% interest in Senlac Ridge Partners.

Rithm Capital Corp. to Report Q3, 2022 Results on Nov 02, 2022

Investor sentiment deteriorated over the past week

New Residential Investment Corp. Declares Dividend for the Third Quarter 2022 Payable on October 28, 2022

Second quarter 2022 earnings released: US$0.007 loss per share (vs US$0.27 profit in 2Q 2021)

New Residential Investment Corp. to Report Q2, 2022 Results on Aug 02, 2022

Investor sentiment improved over the past week

New Residential Investment Corp. Declares Dividend for the Second Quarter 2022, Payable on July 29, 2022

Investor sentiment deteriorated over the past week

Insufficient new directors

New Residential Investment Corp. Reports Impairment Charges for the Three Months Ended March 31, 2022

First quarter 2022 earnings released: EPS: US$1.42 (vs US$0.67 in 1Q 2021)

Insufficient new directors

New Residential Investment Corp. Appoints Neenu Kainth as Chief Digital Officer

New Residential Investment Corp. to Report Q1, 2022 Results on May 03, 2022

New Residential Investment Corp., Annual General Meeting, May 26, 2022

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

New Residential Investment Corp. Announces Retirement of Douglas Jacobs as Director

Upcoming dividend of US$0.25 per share

New Residential Investment Corp. (NYSE:NRZ) completed the acquisition of Genesis Capital LLC from The Goldman Sachs Group, Inc. (NYSE:GS).

Third quarter 2021 earnings released: EPS US$0.31 (vs US$0.19 in 3Q 2020)

Upcoming dividend of US$0.25 per share

Second quarter 2021 earnings released: EPS US$0.27 (vs US$0.021 loss in 2Q 2020)

Upcoming dividend of US$0.20 per share

First quarter 2021 earnings released: EPS US$0.67 (vs US$3.86 loss in 1Q 2020)

New Residential Investment Corp. Provides Earnings Guidance for the First Quarter Ended March 31, 2021