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    Jay Bray

    Chief Executive Officer at Mr Cooper Group Inc
    Board
    Since July 31, 2018
    Age
    57 years
    Tenure
    Started tenure at COOP as Chief Executive Officer on July 31, 2018 and later served as President, reflecting a progression in leadership roles.

    Also at Mr Cooper Group Inc

    CMP
    Carlos M. Pelayo
    Executive Vice President & Chief Legal Officer
    KGJ
    Kurt G. Johnson
    Executive Vice President & Chief Financial Officer
    MR
    Michael Rawls
    Chief Executive Officer of Xome Holdings LLC

    About

    Jay Bray is currently 57 years old and serves as the Chief Executive Officer at Mr. Cooper Group Inc. (COOP). He assumed his role on 07-31-2018, marking the start of his leadership at the company.

    With extensive experience in the mortgage and financial services industry, he has held several key positions at the company, including a term as President, and has been actively involved in strategic initiatives and investor communications.

    His background reflects a strong commitment to regulatory compliance and operational excellence, having signed numerous certifications under the Sarbanes-Oxley Act and participated in significant corporate transactions. This breadth of professional experience underpins his steady leadership at COOP.

    $COOP Performance Under Jay Bray

    Past Roles

    OrganizationRoleDate RangeDetails
    Nationstar Mortgage Holding Inc. President June 2015 – June 2021 Former COOP executive role.
    Nationstar Mortgage LLC President July 2011 – June 2021 Former COOP subsidiary role.
    Nationstar Mortgage LLC Chief Executive Officer October 2011 – July 2018 Held prior to current COOP leadership.
    Nationstar Mortgage LLC Manager October 2011 – July 2018 Concurrent prior leadership position.
    Xome Holdings LLC Executive Chairman September 2015 – July 2018 Held as part of COOP group structure.
    Nationstar Mortgage Holding Inc. Director 2012 – July 2018 Past directorship before current role.
    Nationstar Mortgage Holding Inc. Executive Vice President & Chief Financial Officer May 2011 – February 2012 Position ended prior to later promotions.
    Nationstar Mortgage LLC Chief Financial Officer May 2000 – September 2012 Held during early COOP days.
    Bank of America and Predecessor Entities Various Leadership Roles 1994 – 2000 Included asset-backed securitization, secondary marketing, and investor relations.
    Arthur Andersen Audit Manager 1992 – 1994 Worked in Atlanta, GA.

    External Roles

    OrganizationRoleDate RangeDetails
    Dallas Area Habitat for Humanity Board Member March 2022 – Present N/A
    Sagent M&C, LLC Board Member March 2022 – Present N/A
    Mortgage Bankers Association Board Member October 2023 – Present N/A
    Swell Financial, Inc. Board Member February 2022 – Present N/A

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$1,000,000 AnnualFixed annual base salary.
    All Other Compensation$16,265 AnnualIncludes 401(k) contribution of $13,800.
    RSUs Granted$3,625,000 Vest in one‐third installments on each of the first three anniversariesTime-based award.
    Termination Without Cause Payment$23,389,540 Payable upon termination without causeBreakdown: Salary $2,000,000, Annual Bonus $9,250,000, Accelerated RSU vesting $12,090,731, Medical Coverage $48,809.
    Change in Control Payment$86,200,338 Payable upon change in control eventBreakdown: Salary $2,000,000, Annual Bonus $9,250,000, Accelerated RSU vesting $22,281,137, Accelerated PSU vesting $52,620,393, Medical Coverage $48,809.
    One-Time Value-Driver Equity Award - RSU Portion$6,000,000 50% vest on December 31, 2026 and 50% vest on December 31, 2028Represents 40% of a $15,000,000 award.

    Performance Compensation

    Data from  FY 2024

    Annual Bonus Plan

    MetricValueAdditional Details
    Final Payment$4,625,000 Achieved with a Total EMIP Score of 185%.
    Financial Performance Score140% 70% weighting on financial measures.
    Strategic Score45% 30% weighting on strategic objectives.
    Threshold/Target/Maximum50% / 100% / 200% of target payout Based on defined performance measures.
    Payment ScheduleFirst quarter following performance yearAnnual cash-based incentive.

    Additional Note: The bonus is calculated relative to the $1,000,000 base salary with an EMIP target percentage of 250% (target of $2,500,000).

    Performance Share Units (PSUs)

    MetricThresholdTargetMaximum
    Annualized TBV Growth5.0% 8.0% 12.0%
    Relative TSR Percentile25th Percentile 51st Percentile 75th Percentile
    MetricValueAdditional Details
    Target Number of PSUs50,856 Vesting occurs at the end of the three-year performance period (Jan 1, 2024 – Dec 31, 2026) with certification by the Compensation Committee, or on March 1, 2027.

    One-Time Value-Driver Equity Award - PSU Portion

    MetricThresholdTargetMaximum
    Tangible Book Value Growth10.0% 14.0% 18.0%
    Relative TSR Percentile30th Percentile 55th Percentile 80th Percentile
    MetricValueAdditional Details
    Payout Percentages0% at threshold, 100% at target, 200% at maximum Based on performance achievement.
    Vesting Schedule50% over 3 years, 50% over 5 years Vesting is split by duration.
    Grant DateOctober 24, 2023 As per the Employment & Retention Agreement.
    Grant Date Fair Value (PSU portion)Allocated $9,000,000 of a $15,000,000 award Total one-time award details.

    This performance compensation section covers the cash-based annual bonus, equity-based performance awards (PSUs), and the one-time equity award component based on detailed performance metrics, target thresholds, and vesting conditions for 2024.