Better Home & Finance parts ways with two execs

Better Home & Finance Holding Company (BETR) reports that it has entered into mutual separation agreements with two senior leaders: Chad M. Smith, President of Better Mortgage Corporation, and Barry Feierstein, the Company’s Chief Operating Officer.

Rhea-AI Filing Summary

Better Home & Finance Holding Company (BETR) reports that it has entered into mutual separation agreements with two senior leaders: Chad M. Smith, President of Better Mortgage Corporation, and Barry Feierstein, the Company’s Chief Operating Officer.

Under the Smith Separation Agreement dated September 1, 2026, Mr. Smith’s employment ended by mutual agreement effective September 2, 2026. Subject to the agreement’s conditions, he will receive a $416,666 lump-sum cash payment, representing five months of base salary, six months of COBRA premium payments, and accelerated vesting of 10,000 restricted stock units that would otherwise have been forfeited. The agreement includes mutual releases, confidentiality, non‑disparagement, and post‑employment cooperation obligations, while his existing indemnification agreement remains in effect. A similar Mutual Separation and General Release Agreement with Mr. Feierstein was executed on September 3, 2026 and is effective September 4, 2026, with both agreements to be filed as exhibits to the Form 10‑Q for the quarter ending September 30, 2026.

Positive

• None.

Negative

• Concurrent departures of two senior executives — the President of Better Mortgage Corporation and the Company’s Chief Operating Officer are both separating under mutual agreements, indicating significant leadership turnover in key operational roles.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Key Figures

Lump-sum cash payment to Chad M. Smith: $416,666 Base salary coverage period: 5 months COBRA premium coverage: 6 months +5 more

8 metrics

Lump-sum cash payment to Chad M. Smith $416,666 Represents five months of Mr. Smith’s base annual salary under the Smith Separation Agreement

Base salary coverage period 5 months Period of base salary represented by Mr. Smith’s lump-sum payment

COBRA premium coverage 6 months Company payment of Mr. Smith’s COBRA premiums following separation

Accelerated restricted stock units 10,000 RSUs Restricted stock units that will vest instead of being forfeited upon Mr. Smith’s separation

Smith separation agreement date September 1, 2026 Date the Smith Separation Agreement was entered into

Smith separation effective date September 2, 2026 Effective date of Mr. Smith’s employment ending by mutual agreement

Feierstein separation agreement date September 3, 2026 Date the Mutual Separation and General Release Agreement with Mr. Feierstein was entered into

Feierstein separation effective date September 4, 2026 Effective date of Mr. Feierstein’s mutual separation agreement

Key Terms

Mutual Separation and General Release Agreement, restricted stock units, Consolidated Omnibus Budget Reconciliation Act of 1985, indemnification agreement, +1 more

5 terms

Mutual Separation and General Release Agreement regulatory

"entered into a Mutual Separation and General Release Agreement"

restricted stock units financial

"accelerated the vesting of an aggregate of 10,000 restricted stock units"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Consolidated Omnibus Budget Reconciliation Act of 1985 regulatory

"payment by the Company of Mr. Smith’s Consolidated Omnibus Budget Reconciliation Act of 1985"

indemnification agreement regulatory

"Mr. Smith’s existing indemnification agreement with the Company will remain in effect"

An indemnification agreement is a contract in which one party promises to cover losses, costs, or legal claims that another party might face, acting like a tailored safety net or private insurance policy. For investors, it matters because such agreements shift potential financial risk away from a company or its officers and onto the indemnifier, which can affect a company’s future liabilities, cash flow and how risky the investment appears during deal-making or litigation.

emerging growth company regulatory

"Emerging growth company"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What executive changes did BETR disclose in this 8-K?

The company disclosed mutual separation agreements with Chad M. Smith, President of Better Mortgage Corporation, effective September 2, 2026, and Barry Feierstein, Chief Operating Officer, with his agreement effective September 4, 2026.

What severance will Chad M. Smith receive from Better Home & Finance (BETR)?

Subject to agreement conditions, Chad M. Smith will receive a $416,666 lump-sum cash payment, representing five months of base annual salary, plus six months of COBRA premium payments and accelerated vesting of 10,000 restricted stock units.

How many restricted stock units are accelerating for Chad M. Smith at BETR?

Better Home & Finance accelerated the vesting of 10,000 restricted stock units for Chad M. Smith that would have otherwise remained unvested and been forfeited upon his separation from the company.

Will Chad M. Smith retain indemnification rights from Better Home & Finance (BETR)?

Yes. The filing states that Mr. Smith’s existing indemnification agreement with Better Home & Finance Holding Company will remain in effect in accordance with its terms after his separation.

When will the separation agreements be filed for BETR?

The company states it will file the Smith Separation Agreement and Mr. Feierstein’s Mutual Separation and General Release Agreement as exhibits to its Form 10-Q for the quarter ending September 30, 2026.

What type of agreement governs the executive separations at BETR?

Both separations are governed by Mutual Separation and General Release Agreements, which include a general release of claims from the executives, a limited release by the company, and customary confidentiality, mutual non-disparagement, and post-employment cooperation obligations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/08/2026 - 04:32 PM Accepted by SEC EDGAR 09/08/2026 - 04:31 PM Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 1, 2026

Better Home & Finance Holding Company

(Exact name of registrant as specified in its charter)

Delaware			001-40143			93-3029990
(State or other jurisdiction of incorporation or organization)			(Commission File Number)			(I.R.S. Employer Identification Number)

1 World Trade Center

285 Fulton St., 80th Floor Suite A

New York,

NY

10007

(Address of principal executive offices) (Zip Code)

(415) 523-8837

Registrant’s telephone number, including area code

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A common stock, par value $0.0001 per share

BETR

The Nasdaq Stock Market LLC

Warrants exercisable for one share of Class A common stock at an exercise price of $575

BETRW

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Departure of President of Better Mortgage Corporation

In the early Summer 2026, Better Home & Finance Holding Company (the “Company”) and Chad M. Smith, President of Better Mortgage Corporation, a wholly owned subsidiary of the Company, began discussing terms of Mr. Smith’s separation from the Company. On September 1, 2026, the Company and Mr. Smith entered into a Mutual Separation and General Release Agreement (the “Smith Separation Agreement”). Pursuant to the Smith Separation Agreement, Mr. Smith’s employment with the Company ended by mutual agreement, effective September 2, 2026.

Subject to the satisfaction of the other conditions set forth in the Smith Separation Agreement, Mr. Smith is entitled to receive (i) a lump-sum cash payment of $416,666, less applicable withholdings and taxes, which amount represents five months of Mr. Smith’s base annual salary, and (ii) payment by the Company of Mr. Smith’s Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, premiums for six months. The Company also accelerated the vesting of an aggregate of 10,000 restricted stock units that would otherwise remain unvested and be forfeited upon Mr. Smith’s separation from the Company.

The Smith Separation Agreement also provides for a general release of claims by Mr. Smith, a limited release of claims by the Company, customary confidentiality and mutual non-disparagement provisions and certain post-employment cooperation obligations. Mr. Smith’s existing indemnification agreement with the Company will remain in effect in accordance with its terms.

The foregoing description of the Smith Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the Smith Separation Agreement, a copy of which the Company will file as an exhibit to its Quarterly Report on Form 10-Q for the quarter ending September 30, 2026

Departure of Chief Operating Officer

In early summer 2026, the Company and Barry Feierstein, the Company’s Chief Operating Officer, began discussing Mr. Feierstein’s separation from the Company. On September 3, 2026, the Company and Mr. Feierstein entered into a Mutual Separation and General Release Agreement, effective September 4, 2026. The Company will file Mr. Feierstein’s Mutual Separation and General Release Agreement as an exhibit to its Quarterly Report on Form 10-Q for the quarter ending September 30, 2026.

SIGNATURE

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.

			BETTER HOME & FINANCE HOLDING COMPANY
Date: September 8, 2026			By:			/s/ Paula Tuffin
			Name:			Paula Tuffin
			Title:			General Counsel, Chief Compliance Officer and Secretary

Filing Exhibits & Attachments

4 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 2.1 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 16.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 28.3 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 16.8 KB