Opendoor Announces Inducement Grants for Newly Appointed Chief Executive Officer Under Nasdaq Listing Rule 5635(c)(4)

Core Viewpoint - Opendoor Technologies Inc. has granted inducement equity awards to its newly appointed CEO, Kaz Nejatian, as part of his employment agreement, which includes a significant number of restricted stock units and performance-based awards [1][2]. Summary by Sections Inducement Equity Awards - The Company granted three inducement equity awards to Kaz Nejatian, effective from his employment start date on September 15, 2025 [1][2]. - The awards include a Make-Whole RSU award for 1,580,611 shares and two performance-based PSU awards, each for 40,886,344 shares [2]. Make-Whole RSU Award - The Make-Whole RSU award will fully vest on June 15, 2026, contingent on Mr. Nejatian's continued service [3]. - In the event of a qualifying termination, the RSU award will vest in full [3]. Performance-Based PSU Awards - The first PSU award will vest over five years, with 20% vesting on the first anniversary and the remainder in quarterly installments, contingent on achieving an average stock price of $6.24 [4]. - The first PSU award allows for accelerated vesting upon qualifying termination and includes double-trigger vesting provisions related to a change in control exceeding $25 per share [4]. - The second PSU award has a five-year performance period divided into seven tranches, each requiring specific average stock price hurdles ranging from $9 to $33 [5]. - Each tranche has time-based vesting conditions, with the first tranche vesting on the first anniversary and subsequent tranches vesting quarterly over the following years [5]. - Similar to the first PSU award, the second PSU award includes provisions for accelerated vesting upon death or disability and double-trigger vesting related to a change in control exceeding $25 per share [5]. Company Overview - Opendoor is a leading e-commerce platform for residential real estate transactions, aiming to simplify the process of buying and selling homes [6]. - The Company has been operational since 2014 and serves markets across the U.S. [6].