Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-27

Rithm Capital Corp. (RITM)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$20,450,903
Michael Nierenberg total, FY2025
CEO pay percentile vs peers
268:1
CEO-to-median pay ratio
83.7%
Say-on-pay support, latest vote
Companies that benchmark against RITM
9 companies name RITM as a compensation peer

Each company listed discloses RITM in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named RITM in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Michael Nierenberg$1,000,000$0$12,000,007$0$7,440,000$0$10,896$20,450,903
Chairman of the Board of Directors, Chief Executive Officer and President
Nicola Santoro400,0001,350,0001,050,0060010,8962,810,902
Chief Financial Officer, Chief Accounting Officer and Treasurer
David Zeiden500,000907,224499,9980010,8961,918,118
Chief Legal Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Michael Nierenberg$20,450,903$21,069,074$20,160,023−618,171
Nicola Santoro2,810,9022,548,7282,676,777+262,174
David Zeiden1,918,1181,816,370+101,748

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Rithm Capital Corp.Greater-than-10% holder2026-04-27A110,794$15$1,606,513Common, indirectForm 4 ↗
David SaltzmanDirector2026-05-20D66,7489618,086CommonForm 4 ↗
David SaltzmanDirector2026-05-20D14,1749130,259CommonForm 4 ↗
Peggy Hwan HebardDirector2026-05-26A17,27900CommonForm 4 ↗
Ranjit M. KripalaniDirector2026-05-26A16,73900CommonForm 4 ↗
David SaltzmanDirector2026-05-26A17,27900CommonForm 4 ↗
Patrice M. Le MelleDirector2026-05-26A16,19900CommonForm 4 ↗
William D. AddasDirector2026-05-26A16,19900CommonForm 4 ↗
Kevin J. FinnertyDirector2026-05-26A16,73900CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
David ZeidenPSU2025-02-245,25721,02642,052$249,999
Nicola SantoroRSU2025-02-2444,155525,003
David ZeidenRSU2025-02-2421,026249,999
Michael NierenbergRSU2025-02-24252,3133,000,002
Michael NierenbergPSU2025-02-24189,235756,9392,270,8179,000,005
Nicola SantoroPSU2025-02-2411,03944,15588,310525,003
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
David Zeiden$249,999$249,999$050.0%
Nicola Santoro525,003525,003050.0%
Michael Nierenberg3,000,0029,000,005075.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Nicola SantoroRSU115,392$1,257,773
Michael NierenbergRSU682,2347,436,351
David ZeidenPSU46,375597,652
David ZeidenRSU43,462473,736
Michael NierenbergPSU6,511,86870,979,361
Nicola SantoroPSU384,0064,185,665
05

Incentive-plan design — the Compensation Discussion & Analysis

Our compensation program is designed to align management incentives with the long-term interests of our stockholders. Our objective is to provide a market-based executive compensation program tied to performance and aligned with the interests of our stockholders.

CEO STI target (% of salary)400%
CEO LTI target (% of salary)
Independent consultantFW Cook
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-21191,163,40232,850,1874,379,80183.7%Passed
20252025-05-22195,367,07746,074,5443,091,80479.89%Passed
20242024-05-23183,426,18340,286,5343,469,17980.74%Passed
20232023-05-25195,852,72814,784,3982,718,70891.8%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-2183.7%a
20252025-05-2279.89%b
20242024-05-2380.74%c

a. Approved under the standard stated in the filing — “Abstentions will have the same effect as a vote "against" and broker non-votes will not affect the outcome of each of (i) the proposal for the appointment of the independent registered public accounting firm, (ii) the proposal to approve (on a non-binding advisory basis) the compensation of our named executive officers or (iii) the proposal to approve the First Amendment to the 2023 Plan.”.

b. Approved under the standard stated in the filing — “Abstentions will have the same effect as a vote "against" and broker non-votes will not affect the outcome of each of (i) the proposal for the appointment of the independent registered public accounting firm and (ii) the proposal to approve (on a non-binding advisory basis) the compensation of our named executive officers.”.

c. Approved under the standard stated in the filing — “Abstentions will have the same effect as a vote "against" and broker non-votes will not affect the outcome of each of (i) the proposal for the appointment of the independent registered public accounting firm and (ii) the proposal to approve (on a non-binding advisory basis) the compensation of our named executive officers.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)268 : 1
CEO total compensation$20,450,903
Median employee compensation$76,203
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
David SaltzmanIndependent · Compensation (Chair)$135,000$160,005$0$0$0$295,005
Peggy Hwan HebardIndependent · Audit (Chair) · Compensation135,000160,005000295,005
Ranjit M. KripalaniIndependent · Regulatory (Chair) · Nominating/Governance130,000155,008000285,008
Kevin J. FinnertyIndependent · Audit · Compensation · Nominating/Governance (Chair)130,000155,008000285,008
William D. AddasIndependent · Audit · Compensation125,001150,010000275,011
Patrice M. Le MelleIndependent · Regulatory · Nominating/Governance125,000150,010000275,010
Michael NierenbergEmployee director · Board Chair00000
09

Board fee structure and ownership guideline

Annual cash retainer$125,000
Annual equity retainer$150,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)20,000 / 20,000 / 10,000
Stock ownership guideline$500,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$780,001
Equity awards (grant-date value)$930,046
All other compensation$0
Total cost of the board$1,710,047

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Rithm Capital Corp.2025Michael Nierenberg$1,000,000$12,000,007$0$7,440,000$20,450,903

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

FAQ

Frequently asked questions

Who was the highest-paid executive at Rithm Capital Corp. in fiscal 2025?
As disclosed, Michael Nierenberg was the highest-paid executive at Rithm Capital Corp. in fiscal 2025, with total compensation of $20,450,903.
How does Rithm Capital Corp.'s chief executive pay compare to its disclosed peer group?
The filing shows that the CEO's pay percentile relative to the disclosed peer group is not disclosed in this extract.
What is Rithm Capital Corp.'s CEO-to-median employee pay ratio?
As disclosed, the CEO-to-median employee pay ratio was 268:1.
How did shareholders vote on Rithm Capital Corp.'s executive compensation?
As disclosed, shareholder support for the executive compensation plan was 83.7%.
How much does Rithm Capital Corp. spend in total on board compensation for fiscal 2025?
As disclosed, total board compensation for fiscal 2025 was $1,710,047.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Michael NierenbergDEF 14A2026-04-090001104659-26-041536Section “Summary Compensation Table for 2025”. As printed: 20,450,903. Filing ↗machine: span 416665–416675
2Section 01, Nicola SantoroDEF 14A2026-04-090001104659-26-041536Section “Summary Compensation Table for 2025”. As printed: 2,810,902. Filing ↗machine: span 429089–429098
3Section 01, David ZeidenDEF 14A2026-04-090001104659-26-041536Section “Summary Compensation Table for 2025”. As printed: 1,918,118. Filing ↗machine: span 441492–441501
4Section 03, David Zeiden PSUDEF 14A2026-04-090001104659-26-041536Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t12 · r7 · c50 · span 493876–493883
5Section 03, Nicola Santoro RSUDEF 14A2026-04-090001104659-26-041536Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t12 · r5 · c50 · span 483612–483619
6Section 03, David Zeiden RSUDEF 14A2026-04-090001104659-26-041536Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t12 · r7 · c50 · span 493876–493883
7Section 03, Michael Nierenberg RSUDEF 14A2026-04-090001104659-26-041536Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t12 · r2 · c50 · span 468555–468564
8Section 03, Michael Nierenberg PSUDEF 14A2026-04-090001104659-26-041536Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t12 · r3 · c48 · span 473330–473339
9Section 03, Nicola Santoro PSUDEF 14A2026-04-090001104659-26-041536Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t12 · r5 · c50 · span 483612–483619
10Section 07, pay ratioDEF 14A2026-04-090001104659-26-041536Section “CEO Pay Ratio”. As printed: 268 : 1. Filing ↗machine: span 619877–619880
11Section 08, David SaltzmanDEF 14A2026-04-090001104659-26-041536Section “Director Compensation”. As printed: 295,005. Filing ↗machine: t6 · r6 · c23 · span 176227–176234
12Section 08, Peggy Hwan HebardDEF 14A2026-04-090001104659-26-041536Section “Director Compensation”. As printed: 295,005. Filing ↗machine: t6 · r3 · c23 · span 168446–168453
13Section 08, Ranjit M. KripalaniDEF 14A2026-04-090001104659-26-041536Section “Director Compensation”. As printed: 285,008. Filing ↗machine: t6 · r4 · c23 · span 171033–171040
14Section 08, Kevin J. FinnertyDEF 14A2026-04-090001104659-26-041536Section “Director Compensation”. As printed: 285,008. Filing ↗machine: t6 · r2 · c23 · span 165836–165843
15Section 08, William D. AddasDEF 14A2026-04-090001104659-26-041536Section “Director Compensation”. As printed: 275,011. Filing ↗machine: t6 · r1 · c23 · span 163251–163258
16Section 08, Patrice M. Le MelleDEF 14A2026-04-090001104659-26-041536Section “Director Compensation”. As printed: 275,010. Filing ↗machine: t6 · r5 · c23 · span 173645–173652
17Section 08, Michael NierenbergDEF 14A2026-04-090001104659-26-041536Section “Director Compensation”. As printed: 0. Filing ↗
18Section 02, Rithm Capital Corp. 2026-04-27Form 42026-04-300001556593-26-000020Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, David Saltzman 2026-05-20Form 42026-05-220001574248-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, David Saltzman 2026-05-20Form 42026-05-220001574248-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Peggy Hwan Hebard 2026-05-26Form 42026-05-270001750581-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Ranjit M. Kripalani 2026-05-26Form 42026-05-270001319511-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, David Saltzman 2026-05-26Form 42026-05-270001574248-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Patrice M. Le Melle 2026-05-26Form 42026-05-270001894131-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, William D. Addas 2026-05-26Form 42026-05-270001628280-26-038547Insider equity transaction reported since the proxy statement. Filing ↗
26Section 02, Kevin J. Finnerty 2026-05-26Form 42026-05-270001335440-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
27Section 06, 2026 voteForm 8-K2026-05-210001104659-26-065154Item 5.07 · say-on-pay result. As reported: 83.7% (votes for as printed: 191,163,402). Filing ↗
28Section 06, 2025 voteForm 8-K2025-05-220001140361-25-020185Item 5.07 · say-on-pay result. As reported: 79.89% (votes for as printed: 195,367,077). Filing ↗
29Section 06, 2024 voteForm 8-K2024-05-230001140361-24-027318Item 5.07 · say-on-pay result. As reported: 80.74% (votes for as printed: 183,426,183). Filing ↗
30Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
31Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
32Section 09b board cost (computed)ComputedcomputedCash 780,001 + equity 930,046 + all other 0 = 1,710,047, summed across the director compensation table rows.machine: formula: Σ = 1,710,047
33Rithm Capital Corp. (subject), Section 10b CEO totalDEF 14A2026-04-090001104659-26-041536CEO total compensation as printed in Rithm Capital Corp.'s own proxy. As printed: 20,450,903. Filing ↗machine: span 416665–416675