Offerpad Solutions Inc. Announces Board Changes
Ticker: OPADW · Form: 8-K · Filed: May 23, 2024 · CIK: 1825024
| Field | Detail |
|---|---|
| Company | Offerpad Solutions Inc. (OPADW) |
| Form Type | 8-K |
| Filed Date | May 23, 2024 |
| Risk Level | medium |
| Pages | 9 |
| Reading Time | 11 min |
| Key Dollar Amounts | $0.0001, $500,000, $100,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, management-changes, filing
TL;DR
Offerpad's board is changing, with some directors out and new ones in. Details on pay packages also filed.
AI Summary
Offerpad Solutions Inc. announced on May 21, 2024, the departure of Director Brian D. Swette and the appointment of new directors, including David M. Miller and Jonathan R. Schwalbe. The company also disclosed compensatory arrangements for certain officers, though specific details of these arrangements were not provided in this excerpt. Offerpad Solutions Inc. was formerly known as Supernova Partners Acquisition Company, Inc. before a name change on September 16, 2020.
Why It Matters
Changes in a company's board of directors can signal shifts in strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Board changes and undisclosed compensatory arrangements introduce uncertainty about the company's direction and executive compensation practices.
Key Players & Entities
- Offerpad Solutions Inc. (company) — Registrant
- Brian D. Swette (person) — Departing Director
- David M. Miller (person) — Appointed Director
- Jonathan R. Schwalbe (person) — Appointed Director
- Supernova Partners Acquisition Company, Inc. (company) — Former Company Name
- May 21, 2024 (date) — Date of earliest event reported
- September 16, 2020 (date) — Date of name change
FAQ
Who has departed from Offerpad Solutions Inc.'s board of directors?
Brian D. Swette has departed from the board of directors.
Who has been appointed as new directors to Offerpad Solutions Inc.'s board?
David M. Miller and Jonathan R. Schwalbe have been appointed as new directors.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is May 21, 2024.
What was Offerpad Solutions Inc. formerly known as?
Offerpad Solutions Inc. was formerly known as Supernova Partners Acquisition Company, Inc.
When did Offerpad Solutions Inc. change its name?
Offerpad Solutions Inc. changed its name on September 16, 2020.
Filing Stats: 2,634 words · 11 min read · ~9 pages · Grade level 12.1 · Accepted 2024-05-23 06:42:32
Key Financial Figures
- $0.0001 — which registered Class A common stock, $0.0001 par value per share OPAD The New Yo
- $500,000 — led to receive an annual base salary of $500,000, pro-rated for partial years of employm
- $100,000 — 2024. The Company will pay to Mr. Knag $100,000 in a lump-sum cash payment for any reas
Filing Documents
- d827152d8k.htm (8-K) — 47KB
- d827152dex101.htm (EX-10.1) — 122KB
- 0001193125-24-145405.txt ( ) — 327KB
- opad-20240521.xsd (EX-101.SCH) — 3KB
- opad-20240521_lab.xml (EX-101.LAB) — 17KB
- opad-20240521_pre.xml (EX-101.PRE) — 11KB
- d827152d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) The following exhibits are filed as part of this Current Report on Form 8-K: Exhibit Description 10.1 Employment Agreement, effective as of June 5, 2024, by and between Peter Knag and Offerpad Solutions Inc. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Offerpad Solutions Inc. Date: May 23, 2024 By: /s/ Benjamin A. Aronovitch Benjamin A. Aronovitch Chief Legal Officer and Secretary