[Form 3] Open Lending Corp Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Open Lending Corp (LPRO) reported the initial holdings of its Chief Underwriting Officer on a Form 3. The officer directly owns 4,363 shares of common stock and holds derivative awards, including restricted stock units and stock options. The RSUs and options vest in equal annual installments beginning on March 15, 2026, giving the officer contingent rights to additional LPRO shares over time.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Sather Matthew

(Last) (First) (Middle)

C/O OPEN LENDING CORPORATION

1501 S. MOPAC EXPRESSWAY, SUITE 450

(Street)

AUSTIN TX 78746

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
11/06/2025

3. Issuer Name and Ticker or Trading Symbol
Open Lending Corp [ LPRO ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Underwriting Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, par value $0.01 per share	4,363	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	(1)	Common Stock, par value $0.01 per share	89,898	(2)	D
Stock Options	(3)	07/30/2035	Common Stock, par value $0.01 per share	114,379	$2.5	D

Explanation of Responses:

1. Includes (a) 19,898 restricted stock units that will vest in three equal annual installments beginning on March 15, 2026 and (b) 70,000 restricted stock units that will vest in four equal annual installments beginning on March 15, 2026.

2. Each restricted stock unit represents a contingent right to receive one share of LPRO common stock.

3. These stock options vest in three equal annual installments beginning on March 15, 2026.

Remarks:

Ex 24 - Power of Attorney

	/s/ Ben Massey, as Attorney-in-Fact	11/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Open Lending (LPRO) disclose in this Form 3 filing?

Open Lending disclosed the initial equity holdings of its Chief Underwriting Officer, including directly owned common shares, restricted stock units, and stock options.

How many Open Lending (LPRO) common shares does the officer own directly?

The officer directly owns 4,363 shares of Open Lending common stock, reported as beneficially owned in direct form.

What derivative securities does the Open Lending (LPRO) officer hold?

The officer holds restricted stock units and stock options tied to Open Lending common stock, all reported as directly owned derivative securities.

When do the restricted stock units for Open Lending (LPRO) begin vesting?

The RSUs begin vesting in equal annual installments starting on March 15, 2026, with separate grants vesting over three and four years.

How many Open Lending (LPRO) RSUs are scheduled to vest and on what schedules?

The filing notes 19,898 restricted stock units vesting in three equal annual installments and 70,000 restricted stock units vesting in four equal annual installments, both beginning on March 15, 2026.

What are the key terms of the Open Lending (LPRO) stock options?

The stock options relate to 114,379 shares of common stock, have an exercise price of $2.5 per share, expire on July 30, 2035, and vest in three equal annual installments beginning on March 15, 2026.

What does each restricted stock unit represent for Open Lending (LPRO)?

Each restricted stock unit represents a contingent right to receive one share of Open Lending (LPRO) common stock upon vesting.