[8-K] Open Lending Corp Reports Material Event

Rhea-AI Filing Summary

Open Lending Corporation reported a change in its Board of Directors. On November 19, 2025, director Gene Yoon resigned from the Board. The company states that his resignation was not due to any dispute or disagreement with the company or its Board regarding operations, policies, or practices.

Effective November 21, 2025, the Board appointed Abhijit Chaudhary as a director to fill the vacancy, with a term expiring at the 2027 Annual Meeting of Stockholders. He was also appointed to the Audit Committee and the Nominating and Corporate Governance Committee. Chaudhary brings executive experience from Mastercard Inc., Pagaya Technologies Ltd., and Green Dot Corporation, with prior roles focused on product leadership and consumer financial services.

The company notes there are no arrangements or understandings with any other person regarding his selection and that he is not involved in related party transactions requiring disclosure. Open Lending has entered into its standard director indemnification agreement with him and issued a press release on November 25, 2025 announcing these changes.

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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): November 19, 2025

OPEN LENDING CORPORATION

(Exact name of registrant as specified in its charter)

Delaware			001-39326			84-5031428
(State or other jurisdiction of incorporation)			(Commission File Number)			(IRS Employer Identification No.)

1501 S. MoPac Expressway

Suite 450

Austin, Texas 78746

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: 512-892-0400

(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

Common stock, par value $0.01 per share

LPRO

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.

On November 19, 2025, Gene Yoon resigned his position as a director of Open Lending Corporation (the “Company”). Mr. Yoon’s resignation is not the result of any dispute or disagreement with the Company or the Board of Directors (the “Board”) on any matter relating to the operations, policies, or practices of the Company.

Effective November 21, 2025, the Board appointed Abhijit Chaudhary to serve as a director to fill the vacancy created by the resignation of Mr. Yoon. Mr. Chaudhary’s term as a director will expire at the 2027 Annual Meeting of Stockholders. Mr. Chaudhary was also appointed to serve as a member of the Board’s Audit Committee and Nominating and Corporate Governance Committee.

Mr. Chaudhary serves as Executive Vice President, Global Debit, Prepaid & Sustainability Products of Mastercard Inc. Mr. Chaudhary previously served as Chief Product Officer of Pagaya Technologies Ltd. from October 2023 until November 2025. Prior to that, Mr. Chaudhary served as Chief Product Officer of Green Dot Corporation from January 2022 until October 2023. Mr. Chaudhary previously served in other roles at Green Dot Corporation, including EVP, Head of Direct to Consumer from January 2021 until December 2022 and General Manager, Direct to Consumer from June 2018 until December 2020. Mr. Chaudhary received a Bachelor of Science degree in Computer Engineering from University of Pune and a Master of Business Administration degree from Texas Tech University.

There are no arrangements or understandings between Mr. Chaudhary and any other person pursuant to which Mr. Chaudhary was selected as a director, and Mr. Chaudhary is not a participant in any related party transactions required to be disclosed pursuant to Item 404(a) of Regulation S-K.

The Company has entered into its standard form of director indemnification agreement with Mr. Chaudhary, the form of which is filed as Exhibit 10.11 to the Company’s Current Report on Form 8-K filed on June 16, 2020.

On November 25, 2025, the Company issued a press release in connection with the foregoing announcement. A copy of this press release is filed as Exhibit 99.1 to this report on Form 8-K.

Item 9.01    Financial Statements and Exhibits.

(d)    Exhibits

99.1			Press Release issued by the Company on November 25, 2025.
104			Cover Page Interactive Data File (embedded within the Inline XBRL document)

3

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.

OPEN LENDING CORPORATION
By:						/s/ Jessica Buss
Name:						Jessica Buss
Title:						Chief Executive Officer

Date: November 25, 2025

FAQ

What board change did Open Lending (LPRO) announce on November 19, 2025?

Open Lending reported that Gene Yoon resigned as a director on November 19, 2025. The company states his resignation was not due to any dispute or disagreement with the company or its Board on operations, policies, or practices.

Who replaced Gene Yoon on Open Lending’s Board and when is his term up?

The Board appointed Abhijit Chaudhary as a director effective November 21, 2025 to fill the vacancy. His term as a director will expire at the 2027 Annual Meeting of Stockholders.

What committees will Abhijit Chaudhary serve on at Open Lending (LPRO)?

Abhijit Chaudhary was appointed to the Board’s Audit Committee and the Nominating and Corporate Governance Committee, in addition to serving as a director.

What is the professional background of new Open Lending director Abhijit Chaudhary?

Abhijit Chaudhary serves as Executive Vice President, Global Debit, Prepaid & Sustainability Products at Mastercard Inc.. He previously held Chief Product Officer roles at Pagaya Technologies Ltd. and Green Dot Corporation, and earlier leadership roles at Green Dot in direct-to-consumer businesses.

Did Open Lending disclose any related party transactions involving Abhijit Chaudhary?

No. The company states that there are no arrangements or understandings with any other person under which he was selected and that he is not a participant in any related party transactions requiring disclosure under Item 404(a) of Regulation S-K.

What agreement did Open Lending enter into with new director Abhijit Chaudhary?

Open Lending entered into its standard form of director indemnification agreement with Abhijit Chaudhary, referencing the form filed as Exhibit 10.11 in a prior filing from June 16, 2020.

Did Open Lending issue a press release about the board changes?

Yes. The company issued a press release on November 25, 2025 regarding these announcements, which is filed as Exhibit 99.1 to the report.