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Oportun Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
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Oportun (OPRT) Grants Restricted Stock Units to New Employees, Vests Over Four Years
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SAN CARLOS, Calif., Jan. 10, 2024 (GLOBE NEWSWIRE) -- Oportun (Nasdaq: OPRT), a mission-driven fintech, today announced that on September 10, 2023, it granted a total of 165,887 restricted stock units to 5 new employees who joined Oportun prior to September 10, 2023. On December 10, 2023, it granted a total of 41,709 restricted stock units to 16 new employees who joined Oportun prior to December 10, 2023. The grants were made from the Oportun 2021 Inducement Equity Incentive Plan. The restricted stock unit awards have a four-year vesting term and 25% will vest on the one-year anniversary of the grant date, with the balance vesting in twelve substantially equal quarterly installments thereafter, subject to continued employment or service through each vesting date.
About Oportun Oportun (Nasdaq: OPRT) is a mission-driven fintech that puts its 2.1 million members' financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $17.2 billion in responsible and affordable credit, saved its members more than $2.4 billion in interest and fees, and helped its members save an average of more than $1,800 annually. For more information, visit Oportun.com.
Oportun Investor Contact Dorian Hare (650) 590-4323 ir@oportun.com
How many restricted stock units did Oportun grant to new employees in September 2023?
Oportun granted a total of 165,887 restricted stock units to 5 new employees who joined prior to September 10, 2023.
How many restricted stock units did Oportun grant to new employees in December 2023?
Oportun granted a total of 41,709 restricted stock units to 16 new employees who joined prior to December 10, 2023.
What is the vesting term for the restricted stock unit awards?
The restricted stock unit awards have a four-year vesting term, with 25% vesting on the one-year anniversary of the grant date, and the balance vesting in twelve equal quarterly installments thereafter, subject to continued employment or service.
oportun was formerly known as progreso financiero. only the name has changed. we continue our commitment to our mission: to provide responsible, affordable loans that help the underserved hispanic community establish credit and build a better future. oportun’s advanced data analytics and technology determines every applicant’s ability to repay, including those who do not have credit, and enables back-office efficiency. the company delivers a very supportive and welcoming service experience with bilingual staff across channels and operates over 170 locations in ca, il, tx, ut and nv. why we do it: we are committed to providing affordable and responsible credit services to the hispanic community. it is estimated that 23 million hispanics in the united states have limited or no credit history. in fact, approximately half of the company’s first-time customers do not have a credit score at all. oportun reports performance of all loans to two of the credit bureaus and enables customers
