[8-K/A] Opendoor Technologies Inc Amends Material Event Report
Opendoor announced the Board appointed Shrisha Radhakrishna as President and interim principal executive officer. His annual base salary was increased to $700,000, his target annual cash bonus remains 50% of base salary with a $500,000 minimum for 2025, and he will receive a one-time cash retention bonus of $250,000. He remains a Tier 1 participant in the company Executive Severance Plan. The company disclosed Mr. Radhakrishna purchased 30,000 shares on the open market and three executives terminated prior 10b5-1 sale plans.
Opendoor ha comunicato che il Consiglio ha nominato Shrisha Radhakrishna Presidente e amministratore delegato ad interim. Il suo stipendio annuo base 猫 stato aumentato a $700,000; il bonus annuale target resta pari al 50% dello stipendio base con un minimo garantito di $500,000 per il 2025, e ricever脿 un bonus una tantum di retention in contanti di $250,000. Rimane partecipante di livello 1 nel Executive Severance Plan dell鈥檃zienda. La societ脿 ha inoltre reso noto che il Sig. Radhakrishna ha acquistato 30,000 azioni sul mercato aperto e che tre dirigenti hanno annullato precedenti piani di vendita 10b5-1.
Opendoor anunci贸 que la Junta nombr贸 a Shrisha Radhakrishna Presidente y director ejecutivo interino. Su salario base anual se increment贸 a $700,000; su bono anual objetivo sigue siendo del 50% del salario base con un m铆nimo de $500,000 para 2025, y recibir谩 un bono de retenci贸n 煤nico en efectivo de $250,000. Permanece como participante de Nivel 1 en el Executive Severance Plan de la compa帽铆a. La empresa tambi茅n inform贸 que el Sr. Radhakrishna compr贸 30,000 acciones en el mercado abierto y que tres ejecutivos cancelaron planes de venta 10b5-1 previos.
Opendoor電� 鞚挫偓須岅皜 Shrisha Radhakrishna毳� 靷灔 瓴� 鞛勳嫓 斓滉碃瓴届榿鞛愲 靹犾瀯頄堧嫟瓿� 氚滍憸頄堨姷雼堧嫟. 攴胳潣 鞐半磯 旮半掣旮夓潃 $700,000鞙茧 鞚胳儊霅橃棃瓿�, 鞐瓣皠 氇╉憸 順勱笀 氤措剤鞀る姅 旮半掣旮夓潣 50%搿� 鞙犾霅橂┌ 2025雲勳棎電� 斓滌唽 $500,000臧� 氤挫灔霅╇媹雼�. 霕愴暅 鞚柬殞靹� 順勱笀 鞙犾 氤措剤鞀� $250,000毳� 氚涭姷雼堧嫟. 攴鸽姅 須岇偓鞚� Executive Severance Plan鞐愳劀 1霌标笁 彀胳棳鞛� 鞛愱博鞚� 鞙犾頃╇媹雼�. 須岇偓電� 霕愴暅 Radhakrishna 鞌皜 瓿店皽 鞁滌灔鞐愳劀 30,000欤�毳� 毵れ垬頄堨溂氅� 靹� 氇呾潣 鞛勳洂鞚� 鞚挫爠鞚� 10b5-1 毵る弰 瓿勴殟鞚� 膦呺頄堧嫟瓿� 氚濏様鞀惦媹雼�.
Opendoor a annonc茅 que le conseil d'administration a nomm茅 Shrisha Radhakrishna pr茅sident et directeur g茅n茅ral par int茅rim. Son salaire de base annuel a 茅t茅 port茅 脿 $700,000 ; son bonus annuel cible reste de 50% du salaire de base avec un minimum de $500,000 pour 2025, et il percevra un bonus de r茅tention unique en esp猫ces de $250,000. Il conserve le statut de participant de niveau 1 au Executive Severance Plan de l'entreprise. La soci茅t茅 a 茅galement indiqu茅 que M. Radhakrishna a achet茅 30,000 actions sur le march茅 ouvert et que trois dirigeants ont annul茅 des plans de vente 10b5-1 ant茅rieurs.
Opendoor gab bekannt, dass der Vorstand Shrisha Radhakrishna zum Pr盲sidenten und Interim-CEO ernannt hat. Sein j盲hrliches Grundgehalt wurde auf $700,000 erh枚ht; der zielgerichtete j盲hrliche Barbonus bleibt bei 50% des Grundgehalts mit einem Mindestbetrag von $500,000 f眉r 2025, und er erh盲lt eine einmalige Bar-Retention-Pr盲mie in H枚he von $250,000. Er bleibt Teilnehmer der Stufe 1 im Executive Severance Plan des Unternehmens. Zudem teilte die Gesellschaft mit, dass Herr Radhakrishna 30,000 Aktien am offenen Markt gekauft hat und drei F眉hrungskr盲fte fr眉here 10b5-1-Verkaufspl盲ne beendet haben.
- Leadership clarity: Appointment of Shrisha Radhakrishna as President and interim principal executive officer provides immediate executive succession clarity
- Insider purchase: Mr. Radhakrishna purchased 30,000 shares on the open market, indicating insider buying in compliance with company policy
- Termination of 10b5-1 plans: Three executives terminated prior 10b5-1 selling plans, reducing scheduled automatic sales risk
- Higher cash compensation: Base salary increase to $700,000, guaranteed minimum bonus of $500,000 for 2025, and a $250,000 retention bonus create near-term cash outflows
- Potential governance scrutiny: Material compensation adjustments for an interim leader may attract investor questions about pay-for-performance alignment
Insights
TL;DR: Leadership appointment with modest near-term cash costs; insider purchase may signal confidence but changes are not materially transformative.
The appointment formalizes interim leadership and includes a base salary increase to $700,000, a guaranteed minimum cash bonus of $500,000 for 2025, and a $250,000 retention payment. These cash items are one-time or annual compensation shifts and should have limited direct impact on enterprise value given Opendoor's scale. The reported open-market purchase of 30,000 shares is a signal of insider buying but lacks dollar value disclosure in the filing. Overall, this is a governance and compensation update rather than an operational change.
TL;DR: Governance update clarifies interim CEO role and preserves severance framework; termination of 10b5-1 plans reduces automated sales risk.
The filing documents formal employment terms and preserves Tier 1 severance designation, maintaining prior termination protections. Termination of existing 10b5-1 trading plans by three executives reduces pre-scheduled insider sales, which may lower short-term supply pressure from planned disposals. Compensation increases and retention pay are disclosed transparently; they are notable for governance review but do not indicate related-party transactions or material conflicts in the filing.
Opendoor ha comunicato che il Consiglio ha nominato Shrisha Radhakrishna Presidente e amministratore delegato ad interim. Il suo stipendio annuo base 猫 stato aumentato a $700,000; il bonus annuale target resta pari al 50% dello stipendio base con un minimo garantito di $500,000 per il 2025, e ricever脿 un bonus una tantum di retention in contanti di $250,000. Rimane partecipante di livello 1 nel Executive Severance Plan dell鈥檃zienda. La societ脿 ha inoltre reso noto che il Sig. Radhakrishna ha acquistato 30,000 azioni sul mercato aperto e che tre dirigenti hanno annullato precedenti piani di vendita 10b5-1.
Opendoor anunci贸 que la Junta nombr贸 a Shrisha Radhakrishna Presidente y director ejecutivo interino. Su salario base anual se increment贸 a $700,000; su bono anual objetivo sigue siendo del 50% del salario base con un m铆nimo de $500,000 para 2025, y recibir谩 un bono de retenci贸n 煤nico en efectivo de $250,000. Permanece como participante de Nivel 1 en el Executive Severance Plan de la compa帽铆a. La empresa tambi茅n inform贸 que el Sr. Radhakrishna compr贸 30,000 acciones en el mercado abierto y que tres ejecutivos cancelaron planes de venta 10b5-1 previos.
Opendoor電� 鞚挫偓須岅皜 Shrisha Radhakrishna毳� 靷灔 瓴� 鞛勳嫓 斓滉碃瓴届榿鞛愲 靹犾瀯頄堧嫟瓿� 氚滍憸頄堨姷雼堧嫟. 攴胳潣 鞐半磯 旮半掣旮夓潃 $700,000鞙茧 鞚胳儊霅橃棃瓿�, 鞐瓣皠 氇╉憸 順勱笀 氤措剤鞀る姅 旮半掣旮夓潣 50%搿� 鞙犾霅橂┌ 2025雲勳棎電� 斓滌唽 $500,000臧� 氤挫灔霅╇媹雼�. 霕愴暅 鞚柬殞靹� 順勱笀 鞙犾 氤措剤鞀� $250,000毳� 氚涭姷雼堧嫟. 攴鸽姅 須岇偓鞚� Executive Severance Plan鞐愳劀 1霌标笁 彀胳棳鞛� 鞛愱博鞚� 鞙犾頃╇媹雼�. 須岇偓電� 霕愴暅 Radhakrishna 鞌皜 瓿店皽 鞁滌灔鞐愳劀 30,000欤�毳� 毵れ垬頄堨溂氅� 靹� 氇呾潣 鞛勳洂鞚� 鞚挫爠鞚� 10b5-1 毵る弰 瓿勴殟鞚� 膦呺頄堧嫟瓿� 氚濏様鞀惦媹雼�.
Opendoor a annonc茅 que le conseil d'administration a nomm茅 Shrisha Radhakrishna pr茅sident et directeur g茅n茅ral par int茅rim. Son salaire de base annuel a 茅t茅 port茅 脿 $700,000 ; son bonus annuel cible reste de 50% du salaire de base avec un minimum de $500,000 pour 2025, et il percevra un bonus de r茅tention unique en esp猫ces de $250,000. Il conserve le statut de participant de niveau 1 au Executive Severance Plan de l'entreprise. La soci茅t茅 a 茅galement indiqu茅 que M. Radhakrishna a achet茅 30,000 actions sur le march茅 ouvert et que trois dirigeants ont annul茅 des plans de vente 10b5-1 ant茅rieurs.
Opendoor gab bekannt, dass der Vorstand Shrisha Radhakrishna zum Pr盲sidenten und Interim-CEO ernannt hat. Sein j盲hrliches Grundgehalt wurde auf $700,000 erh枚ht; der zielgerichtete j盲hrliche Barbonus bleibt bei 50% des Grundgehalts mit einem Mindestbetrag von $500,000 f眉r 2025, und er erh盲lt eine einmalige Bar-Retention-Pr盲mie in H枚he von $250,000. Er bleibt Teilnehmer der Stufe 1 im Executive Severance Plan des Unternehmens. Zudem teilte die Gesellschaft mit, dass Herr Radhakrishna 30,000 Aktien am offenen Markt gekauft hat und drei F眉hrungskr盲fte fr眉here 10b5-1-Verkaufspl盲ne beendet haben.
FAQ
What compensation changes were made for Opendoor (OPEN) interim CEO?
Did Opendoor disclose any insider share purchases?
Are there changes to severance protections for the interim CEO at OPEN?
Did Opendoor executives change trading plans?
Does the filing state the dollar value of the insider purchase?
