Opendoor Technologies Inc. Board Changes and Officer Compensation
Ticker: OPENZ · Form: 8-K · Filed: Sep 12, 2024 · CIK: 1801169
| Field | Detail |
|---|---|
| Company | Opendoor Technologies Inc. (OPENZ) |
| Form Type | 8-K |
| Filed Date | Sep 12, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $4, $7, $50,000, $10,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, officer-compensation, governance
Related Tickers: OPEN
TL;DR
Opendoor's board sees a director swap, with David M. Rutter departing and then rejoining, effective Sept 11.
AI Summary
Opendoor Technologies Inc. filed an 8-K on September 12, 2024, reporting on the departure of director David M. Rutter and the election of new director, David M. Rutter, to the board, effective September 11, 2024. The filing also disclosed compensatory arrangements for certain officers and other events.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine board changes and compensation disclosures, with no immediate financial distress or significant operational shifts indicated.
Key Players & Entities
- Opendoor Technologies Inc. (company) — Registrant
- David M. Rutter (person) — Director
- September 11, 2024 (date) — Effective date of board changes
- September 12, 2024 (date) — Filing date of the 8-K
FAQ
Who is David M. Rutter and what is his role with Opendoor Technologies Inc.?
David M. Rutter is a director of Opendoor Technologies Inc. He departed the board on September 11, 2024, and was subsequently elected as a new director on the same date.
What is the effective date of the reported board changes?
The departure and election of directors, including David M. Rutter, were effective as of September 11, 2024.
What other information is disclosed in this 8-K filing?
Besides the director changes, the filing also covers compensatory arrangements of certain officers and other events.
When was this 8-K filing submitted to the SEC?
This Form 8-K was filed with the SEC on September 12, 2024.
What is Opendoor Technologies Inc.'s principal executive office address?
Opendoor Technologies Inc.'s principal executive offices are located at 410 N. Scottsdale Road, Suite 1600, Tempe, AZ 85288.
Filing Stats: 970 words · 4 min read · ~3 pages · Grade level 10.5 · Accepted 2024-09-12 16:09:16
Key Financial Figures
- $0.0001 — ge on which registered Common stock, $0.0001 par value per share OPEN The Nasdaq Sto
- $4 — e credit in the United States with over $4 trillion assets, from August 2018 until
- $7 — cloud-native platform that enables the $7 trillion mortgage-backed securities mar
- $50,000 — for (i) an annual cash retainer of (a) $50,000 for serving on the Board and (b) $10,00
- $10,000 — 50,000 for serving on the Board and (b) $10,000 for his service as a member of the Comp
- $200,000 — mber of shares of common stock equal to $200,000 divided by the Share Price (as defined
Filing Documents
- open-20240911.htm (8-K) — 31KB
- exhibit991boardofdirectors.htm (EX-99.1) — 7KB
- 0001801169-24-000153.txt ( ) — 166KB
- open-20240911.xsd (EX-101.SCH) — 2KB
- open-20240911_lab.xml (EX-101.LAB) — 22KB
- open-20240911_pre.xml (EX-101.PRE) — 13KB
- open-20240911_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On September 12, 2024, the Company issued a press release announcing the director appointment. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by this reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release, dated September 12 , 2024 104 Cover Page Interactive Data File (Cover page XBRL tags are embedded within the Inline XBRL document) 2
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: September 12, 2024 By: /s/ Carrie Wheeler Name: Carrie Wheeler Title: Chief Executive Officer 3