-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KhQyjnEBs0aDh01h/rG5pF3ZpPS2f7NncnJNEHTuqnZEiBCQJqu8rVgFZgN/NcRh 6m2NlZpC1AVNnp8lREjIlA== 0000899140-09-001066.txt : 20090605 0000899140-09-001066.hdr.sgml : 20090605 20090605130058 ACCESSION NUMBER: 0000899140-09-001066 CONFORMED SUBMISSION TYPE: DFAN14A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20090605 DATE AS OF CHANGE: 20090605 EFFECTIVENESS DATE: 20090605 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PHH CORP CENTRAL INDEX KEY: 0000077776 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS BUSINESS CREDIT INSTITUTION [6159] IRS NUMBER: 520551284 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DFAN14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-07797 FILM NUMBER: 09876315 BUSINESS ADDRESS: STREET 1: 3000 LEADENHALL ROAD CITY: MT. LAUREL STATE: NJ ZIP: 08054 BUSINESS PHONE: 856-917-1744 MAIL ADDRESS: STREET 1: 3000 LEADENHALL ROAD CITY: MT. LAUREL STATE: NJ ZIP: 08054 FORMER COMPANY: FORMER CONFORMED NAME: PHH GROUP INC DATE OF NAME CHANGE: 19880913 FORMER COMPANY: FORMER CONFORMED NAME: PETERSON HOWELL & HEATHER INC DATE OF NAME CHANGE: 19790121 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PENNANT CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0001168664 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: DFAN14A BUSINESS ADDRESS: STREET 1: 26 MAIN STREET STREET 2: SUITE 203 CITY: CHATHAM STATE: NJ ZIP: 07928 BUSINESS PHONE: 9737011100 MAIL ADDRESS: STREET 1: 26 MAIN STREET STREET 2: SUITE 203 CITY: CHATHAM STATE: NJ ZIP: 07928 FORMER COMPANY: FORMER CONFORMED NAME: PENNANT CAPITAL MANAGEMENT INC DATE OF NAME CHANGE: 20020307 DFAN14A 1 p4950255.txt PROXY UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registration [ ] Filed by a Party other than the Registrant [X] Check the appropriate box: [ ] Preliminary Proxy Statement [ ] Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) [ ] Definitive Proxy [ ] Statement[ ] [X] Definitive Additional Materials [ ] Soliciting Material Pursuant to ss.240.14a-12 PHH CORPORATION ---------------------------- (Name of Registrant as Specified In Its Charter) PENNANT CAPITAL MANAGEMENT, LLC PENNANT OFFSHORE PARTNERS, LTD. PENNANT ONSHORE PARTNERS, LP PENNANT ONSHORE QUALIFIED, LP PENNANT SPINNAKER FUND LP PENNANT WINDWARD FUND, LP PENNANT WINDWARD FUND, LTD. ALAN FOURNIER ALLAN Z. LOREN GREGORY J. PARSEGHIAN ------------------------------- (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): [X] No fee required. [ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. 1) Title of each class of securities to which transaction applies: - -------------------------------------------------------------------------------- 2) Aggregate number of securities to which transaction applies: - -------------------------------------------------------------------------------- 3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): - -------------------------------------------------------------------------------- 4) Proposed maximum aggregate value of transaction: - -------------------------------------------------------------------------------- 5) Total fee paid: - -------------------------------------------------------------------------------- [ ] Fee paid previously with preliminary materials. [ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. 1) Amount Previously Paid - -------------------------------------------------------------------------------- 2) Form, Schedule or Registration Statement No.: - -------------------------------------------------------------------------------- 3) Filing Party: - -------------------------------------------------------------------------------- 4) Date Filed: - -------------------------------------------------------------------------------- On June 5, 2009, Pennant Capital Management, LLC issued a press release correcting a statement in its June 2, 2009 letter to stockholders of PHH Corporation ("PHH") that urged the stockholders to vote for the independent nominees to the Board of Directors of PHH at PHH's 2009 annual stockholders meeting scheduled to be held on June 10, 2009. The press release is attached hereto as Exhibit 1 and is incorporated herein by reference. * * * * * Exhibits -------- Exhibit 1 Press Release issued by Pennant Capital Management, LLC on June 5, 2009. EX-1 2 p4950255a.txt PRESS RELEASE Exhibit 1 NEWS RELEASE For Immediate Release: Contact: Bob Marese MacKenzie Partners, Inc. 212-929-5500 PENNANT CAPITAL CORRECTS JUNE 2, 2009 LETTER TO STOCKHOLDERS New York, New York, June 5, 2009 - PHH Corp. (NYSE: PHH) - Pennant Capital Management, LLC today issued a correction of a statement in its June 2, 2009 letter to the stockholders of PHH Corporation. In reference to PHH's first quarter earnings of $2 million, or $.04 per share, the letter had stated that this quarterly profit was PHH's first quarterly profit in the last fourteen quarters. The letter should have indicated that PHH's mortgage production segment, rather than PHH itself, had earned, in the first quarter of 2009, its first quarterly profit in fourteen quarters. Recent segment results reported by PHH are as follows:
PHH Corporation Reported Segment Profit ($ in millions) - -------------------------- ---------------- ------------------ ----------------- ------------------ ------------------ 2005 2006 2007 2008 1Q 2009 - -------------------------- ---------------- ------------------ ----------------- ------------------ ------------------ - -------------------------- ---------------- ------------------ ----------------- ------------------ ------------------ Mortgage Production $(17) $(152) $(225) $(93) $113 - -------------------------- ---------------- ------------------ ----------------- ------------------ ------------------ - -------------------------- ---------------- ------------------ ----------------- ------------------ ------------------ Mortgage Servicing $140 $44 $75 $(430) $(118) - -------------------------- ---------------- ------------------ ----------------- ------------------ ------------------ - -------------------------- ---------------- ------------------ ----------------- ------------------ ------------------ Fleet Management $80 $102 $116 $62 $7 - -------------------------- ---------------- ------------------ ----------------- ------------------ ------------------ # # #
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