Opendoor Technologies Inc. Amends 8-K Filing
Ticker: OPENZ · Form: 8-K/A · Filed: Aug 28, 2025 · CIK: 1801169
| Field | Detail |
|---|---|
| Company | Opendoor Technologies Inc. (OPENZ) |
| Form Type | 8-K/A |
| Filed Date | Aug 28, 2025 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $700,000, $500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: amendment, director-change, executive-compensation
TL;DR
Opendoor's board is changing, with a director leaving and a new one joining, plus executive pay updates.
AI Summary
Opendoor Technologies Inc. filed an 8-K/A on August 28, 2025, to amend a previous filing. The amendment pertains to the departure of a director, the election of a new director, and updates to compensatory arrangements for certain officers, all effective as of August 15, 2025. The filing also includes a Regulation FD Disclosure.
Why It Matters
This amendment provides updated information regarding changes in the company's board of directors and executive compensation, which are key governance and financial details for investors.
Risk Assessment
Risk Level: low — This is an amendment to a previous filing, primarily concerning director changes and compensation, which typically carries a low immediate risk.
Key Players & Entities
- Opendoor Technologies Inc. (company) — Registrant
- August 15, 2025 (date) — Effective date of changes
- August 28, 2025 (date) — Filing date
- Social Capital Hedosophia Holdings Corp. II (company) — Former company name
FAQ
What specific items are being amended in this 8-K/A filing?
This 8-K/A filing amends information related to the departure of a director, the election of a director, and compensatory arrangements of certain officers.
What is the effective date of the changes reported in the filing?
The earliest event reported, and thus the effective date of the changes, is August 15, 2025.
When was this amended filing submitted to the SEC?
The filing was submitted to the SEC on August 28, 2025.
What was Opendoor Technologies Inc. formerly known as?
Opendoor Technologies Inc. was formerly known as Social Capital Hedosophia Holdings Corp. II.
Besides director changes and compensation, what other information is included in this filing?
The filing also includes a Regulation FD Disclosure.
Filing Stats: 778 words · 3 min read · ~3 pages · Grade level 11.9 · Accepted 2025-08-28 16:31:57
Key Financial Figures
- $0.0001 — nge on which registered Common stock, $0.0001 par value per share OPEN The Nasdaq
- $700,000 — a's annual base salary was increased to $700,000 and his target bonus opportunity under
- $500,000 — eive a minimum annual bonus for 2025 of $500,000). The Amended Offer Letter further prov
Filing Documents
- ef20054807_8ka.htm (8-K/A) — 31KB
- 0001140361-25-033195.txt ( ) — 155KB
- open-20250815.xsd (EX-101.SCH) — 4KB
- open-20250815_lab.xml (EX-101.LAB) — 21KB
- open-20250815_pre.xml (EX-101.PRE) — 16KB
- ef20054807_8ka_htm.xml (XML) — 4KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers As previously disclosed, effective August 15, 2025, the Board of Directors (the "Board") of the Company appointed Shrisha Radhakrishna as President of the Company and designated Mr. Radhakrishna as the Company's interim principal executive officer. At the time of the Original Report, the modifications to Mr. Radhakrishna's compensation arrangements had not been finalized. Effective August 26 , 2025, in connection with his appointment as President and interim principal executive officer of the Company, Shrisha Radhakrishna and Opendoor Labs Inc. entered into an amended offer letter agreement (the "Amended Offer Letter"). Pursuant to the Amended Offer Letter, Mr. Radhakrishna's annual base salary was increased to $700,000 and his target bonus opportunity under the Company's annual cash incentive program remains unchanged at 50% of his annual base salary (but he will receive a minimum annual bonus for 2025 of $500,000). The Amended Offer Letter further provides that Mr. Radhakrishna will receive a one-time cash retention bonus in the amount of $ 2 50,000 in connection with his appointment. Mr. Radhakrishna's eligibility for severance payments and benefits upon certain qualifying terminations of employment will continue to be governed by the Company's Executive Severance Plan, under which he has been designated as a Tier 1 participant.
01
Item 7.01. Regulation FD Disclosure. On August 28, 2025, Shrisha Radhakrishna purchased 30,000 shares of the Company's common stock on the open market in compliance with the Company's Insider Trading and Trading Windows Policy. In addition, Shrisha Radhakrishna, Selim Freiha and Sydney Schaub have each terminated the 10b5-1 trading plans they each had previously adopted related to the sale of the Company's common stock. The information contained in Item 7.01 of this Current Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
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 hereunto duly authorized. Opendoor Technologies Inc. Date: August 28 , 2025 By: /s/ Selim Freiha Name: Selim Freiha Title: Chief Financial Officer