X0202 4 2006-01-03 0 0000077776 PHH CORP PHH 0001312913 Krongard A B 3000 LEADENHALL ROAD MOUNT LAUREL NJ 08054 1 0 0 0 Common Stock 2006-01-03 4 A 0 1425 0.00 A 8594 D Board of Directors' fees granted in restricted stock units. Each restricted stock unit represents the right to receive one share of Common Stock, 583 of which will be paid 200 days after cessation of service on the Board of Directors and 842 of which shall be paid one year after cessation of service on the Board of Directors. /s/ William F. Brown, Attorney-in-Fact 2006-01-04