New York-based Rithm Capital has changed the compensation package of its top executive, Michael Nierenberg, by reducing his annual base salary, bonus and time-based equity award. But the company also increased the performance-based share of the total equity award.

As a result, Nierenberg’s target annual compensation rose from $15 million to $17 million, according to a March 15 filing with the Securities and Exchange Commission (SEC). 

A spokesperson for Rithm Capital declined to provide more details on the decision.

Nierenberg, the chairman, CEO and president of Rithm Capital, will have his base salary reduced from $1.25 million to $1 million, effective April 1, details ⇒

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