Short answer
ONITY GROUP INC. (ONIT) filed an 8-K current report with the SEC on February 24, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). New CAO Aulene Wessel joins Feb 23, 2026 at $435K base salary + $235K annual cash target incentive.
ONITY GROUP INC. 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- New CAO Aulene Wessel joins Feb 23, 2026 at $435K base salary + $235K annual cash target incentive
- Substantial sign-on package: $455K upfront cash bonus + $70K at 6-month mark, both subject to 24-month clawback
- Equity/cash-settled RSUs at $250K target value plus $250K LTI award under 2021 Equity Incentive Plan pending committee approval
- Wessel brings senior accounting leadership from Truist Bank, SoFi, and Silicon Valley Bank: strong regulatory/financial reporting background
- Departing CAO Grunenwald exits after 6 years; receives severance + 2025 incentive (target $251K); departure explicitly not due to accounting disagreements
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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