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.
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.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| 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 Santoro | 400,000 | 1,350,000 | 1,050,006 | 0 | — | 0 | 10,896 | 2,810,902 |
| Chief Financial Officer, Chief Accounting Officer and Treasurer | ||||||||
| David Zeiden | 500,000 | 907,224 | 499,998 | 0 | — | 0 | 10,896 | 1,918,118 |
| 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.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Michael Nierenberg | $20,450,903 | $21,069,074 | $20,160,023 | −618,171 |
| Nicola Santoro | 2,810,902 | 2,548,728 | 2,676,777 | +262,174 |
| David Zeiden | 1,918,118 | 1,816,370 | — | +101,748 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Rithm Capital Corp. | Greater-than-10% holder | 2026-04-27 | A | 110,794 | $15 | $1,606,513 | Common, indirect | Form 4 ↗ |
| David Saltzman | Director | 2026-05-20 | D | 66,748 | 9 | 618,086 | Common | Form 4 ↗ |
| David Saltzman | Director | 2026-05-20 | D | 14,174 | 9 | 130,259 | Common | Form 4 ↗ |
| Peggy Hwan Hebard | Director | 2026-05-26 | A | 17,279 | 0 | 0 | Common | Form 4 ↗ |
| Ranjit M. Kripalani | Director | 2026-05-26 | A | 16,739 | 0 | 0 | Common | Form 4 ↗ |
| David Saltzman | Director | 2026-05-26 | A | 17,279 | 0 | 0 | Common | Form 4 ↗ |
| Patrice M. Le Melle | Director | 2026-05-26 | A | 16,199 | 0 | 0 | Common | Form 4 ↗ |
| William D. Addas | Director | 2026-05-26 | A | 16,199 | 0 | 0 | Common | Form 4 ↗ |
| Kevin J. Finnerty | Director | 2026-05-26 | A | 16,739 | 0 | 0 | Common | Form 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.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| David Zeiden | PSU | 2025-02-24 | 5,257 | 21,026 | — | 42,052 | $249,999 |
| Nicola Santoro | RSU | 2025-02-24 | — | — | 44,155 | — | 525,003 |
| David Zeiden | RSU | 2025-02-24 | — | — | 21,026 | — | 249,999 |
| Michael Nierenberg | RSU | 2025-02-24 | — | — | 252,313 | — | 3,000,002 |
| Michael Nierenberg | PSU | 2025-02-24 | 189,235 | 756,939 | — | 2,270,817 | 9,000,005 |
| Nicola Santoro | PSU | 2025-02-24 | 11,039 | 44,155 | — | 88,310 | 525,003 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| David Zeiden | $249,999 | $249,999 | $0 | 50.0% |
| Nicola Santoro | 525,003 | 525,003 | 0 | 50.0% |
| Michael Nierenberg | 3,000,002 | 9,000,005 | 0 | 75.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Nicola Santoro | RSU | 115,392 | — | $1,257,773 |
| Michael Nierenberg | RSU | 682,234 | — | 7,436,351 |
| David Zeiden | PSU | 46,375 | — | 597,652 |
| David Zeiden | RSU | 43,462 | — | 473,736 |
| Michael Nierenberg | PSU | 6,511,868 | — | 70,979,361 |
| Nicola Santoro | PSU | 384,006 | — | 4,185,665 |
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 consultant | FW Cook |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-21 | 191,163,402 | 32,850,187 | 4,379,801 | 83.7% | Passed |
| 2025 | 2025-05-22 | 195,367,077 | 46,074,544 | 3,091,804 | 79.89% | Passed |
| 2024 | 2024-05-23 | 183,426,183 | 40,286,534 | 3,469,179 | 80.74% | Passed |
| 2023 | 2023-05-25 | 195,852,728 | 14,784,398 | 2,718,708 | 91.8% | 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.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-21 | 83.7%a |
| 2025 | 2025-05-22 | 79.89%b |
| 2024 | 2024-05-23 | 80.74%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.
| Ratio (CEO : median employee) | 268 : 1 |
|---|---|
| CEO total compensation | $20,450,903 |
| Median employee compensation | $76,203 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| David SaltzmanIndependent · Compensation (Chair) | $135,000 | $160,005 | $0 | $0 | $0 | $295,005 |
| Peggy Hwan HebardIndependent · Audit (Chair) · Compensation | 135,000 | 160,005 | 0 | 0 | 0 | 295,005 |
| Ranjit M. KripalaniIndependent · Regulatory (Chair) · Nominating/Governance | 130,000 | 155,008 | 0 | 0 | 0 | 285,008 |
| Kevin J. FinnertyIndependent · Audit · Compensation · Nominating/Governance (Chair) | 130,000 | 155,008 | 0 | 0 | 0 | 285,008 |
| William D. AddasIndependent · Audit · Compensation | 125,001 | 150,010 | 0 | 0 | 0 | 275,011 |
| Patrice M. Le MelleIndependent · Regulatory · Nominating/Governance | 125,000 | 150,010 | 0 | 0 | 0 | 275,010 |
| Michael NierenbergEmployee director · Board Chair | 0 | 0 | 0 | — | 0 | 0 |
| 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 |
| Component | FY2025 |
|---|---|
| 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.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Rithm Capital Corp. | 2025 | Michael 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.
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.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Michael Nierenberg | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “Summary Compensation Table for 2025”. As printed: 20,450,903. Filing ↗machine: span 416665–416675 |
| 2 | Section 01, Nicola Santoro | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “Summary Compensation Table for 2025”. As printed: 2,810,902. Filing ↗machine: span 429089–429098 |
| 3 | Section 01, David Zeiden | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “Summary Compensation Table for 2025”. As printed: 1,918,118. Filing ↗machine: span 441492–441501 |
| 4 | Section 03, David Zeiden PSU | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t12 · r7 · c50 · span 493876–493883 |
| 5 | Section 03, Nicola Santoro RSU | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t12 · r5 · c50 · span 483612–483619 |
| 6 | Section 03, David Zeiden RSU | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t12 · r7 · c50 · span 493876–493883 |
| 7 | Section 03, Michael Nierenberg RSU | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t12 · r2 · c50 · span 468555–468564 |
| 8 | Section 03, Michael Nierenberg PSU | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t12 · r3 · c48 · span 473330–473339 |
| 9 | Section 03, Nicola Santoro PSU | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t12 · r5 · c50 · span 483612–483619 |
| 10 | Section 07, pay ratio | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “CEO Pay Ratio”. As printed: 268 : 1. Filing ↗machine: span 619877–619880 |
| 11 | Section 08, David Saltzman | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “Director Compensation”. As printed: 295,005. Filing ↗machine: t6 · r6 · c23 · span 176227–176234 |
| 12 | Section 08, Peggy Hwan Hebard | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “Director Compensation”. As printed: 295,005. Filing ↗machine: t6 · r3 · c23 · span 168446–168453 |
| 13 | Section 08, Ranjit M. Kripalani | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “Director Compensation”. As printed: 285,008. Filing ↗machine: t6 · r4 · c23 · span 171033–171040 |
| 14 | Section 08, Kevin J. Finnerty | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “Director Compensation”. As printed: 285,008. Filing ↗machine: t6 · r2 · c23 · span 165836–165843 |
| 15 | Section 08, William D. Addas | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “Director Compensation”. As printed: 275,011. Filing ↗machine: t6 · r1 · c23 · span 163251–163258 |
| 16 | Section 08, Patrice M. Le Melle | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “Director Compensation”. As printed: 275,010. Filing ↗machine: t6 · r5 · c23 · span 173645–173652 |
| 17 | Section 08, Michael Nierenberg | DEF 14A | 2026-04-09 | 0001104659-26-041536 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 18 | Section 02, Rithm Capital Corp. 2026-04-27 | Form 4 | 2026-04-30 | 0001556593-26-000020 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 19 | Section 02, David Saltzman 2026-05-20 | Form 4 | 2026-05-22 | 0001574248-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 02, David Saltzman 2026-05-20 | Form 4 | 2026-05-22 | 0001574248-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 21 | Section 02, Peggy Hwan Hebard 2026-05-26 | Form 4 | 2026-05-27 | 0001750581-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Ranjit M. Kripalani 2026-05-26 | Form 4 | 2026-05-27 | 0001319511-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, David Saltzman 2026-05-26 | Form 4 | 2026-05-27 | 0001574248-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, Patrice M. Le Melle 2026-05-26 | Form 4 | 2026-05-27 | 0001894131-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, William D. Addas 2026-05-26 | Form 4 | 2026-05-27 | 0001628280-26-038547 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Kevin J. Finnerty 2026-05-26 | Form 4 | 2026-05-27 | 0001335440-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 06, 2026 vote | Form 8-K | 2026-05-21 | 0001104659-26-065154 | Item 5.07 · say-on-pay result. As reported: 83.7% (votes for as printed: 191,163,402). Filing ↗ |
| 28 | Section 06, 2025 vote | Form 8-K | 2025-05-22 | 0001140361-25-020185 | Item 5.07 · say-on-pay result. As reported: 79.89% (votes for as printed: 195,367,077). Filing ↗ |
| 29 | Section 06, 2024 vote | Form 8-K | 2024-05-23 | 0001140361-24-027318 | Item 5.07 · say-on-pay result. As reported: 80.74% (votes for as printed: 183,426,183). Filing ↗ |
| 30 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 31 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 32 | Section 09b board cost (computed) | Computed | — | computed | Cash 780,001 + equity 930,046 + all other 0 = 1,710,047, summed across the director compensation table rows.machine: formula: Σ = 1,710,047 |
| 33 | Rithm Capital Corp. (subject), Section 10b CEO total | DEF 14A | 2026-04-09 | 0001104659-26-041536 | CEO total compensation as printed in Rithm Capital Corp.'s own proxy. As printed: 20,450,903. Filing ↗machine: span 416665–416675 |