Open Lending Corp (LPRO) counsel tenders stock in $3.15 cash deal
Rhea-AI Filing Summary
Open Lending Corp General Counsel Ben Massey reported equity transactions connected to a cash merger. He tendered 29,472 common shares at $3.15 per share in a tender offer. In addition, 151,777 time-based RSUs and 112,250 PSUs were cancelled and converted into rights to receive $3.15 in cash per underlying share.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 29,472 shares
Net Sell
4 txns
Insider
Massey Ben
Role
General Counsel
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Restricted Stock Units F2 | 151,777 | -- | -- |
| Grant/Award | Performance Stock Units F3 | 112,250 | -- | -- |
| Disposition | Performance Stock Units F3 | 112,250 | -- | -- |
| Tender Offer | Common Stock, par value $0.01 per share F1 | 29,472 | $3.15 | $93K |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Performance Stock Units — 0 shares (Direct);
Common Stock, par value $0.01 per share — 0 shares (Direct)
Footnotes (3)
- F1. The Reporting Person tendered the shares of common stock in exchange for $3.15 per share in cash in the tender offer (the "Offer") made pursuant to the Agreement and Plan of Merger, dated as of June 15, 2026 (the "Merger Agreement"), among the Issuer, ANV Group Holdings Ltd. and Lakers Acquisition Sub, Inc.
- F2. Pursuant to the Merger Agreement, each time-based restricted stock unit of the Issuer outstanding at the effective time of the merger (the "Effective Time") was cancelled and converted into the right to receive $3.15 in cash.
- F3. Pursuant to the Merger Agreement, effective as of immediately prior to the Effective Time, each outstanding performance-based stock unit of the Issuer (each, a "PSU") vested on a one PSU for one share of common stock basis and, at the Effective Time, was cancelled and converted into the right to receive $3.15 in cash.
Key Figures
Tendered common shares: 29,472 shares
Tender offer price: $3.15 per share
Cancelled time-based RSUs: 151,777 units
+1 more
4 metrics
Tendered common shares
29,472 shares
Common stock tendered for $3.15 per share in cash on 2026-07-28
Tender offer price
$3.15 per share
Cash consideration per common share in the tender offer and merger agreement
Cancelled time-based RSUs
151,777 units
RSUs cancelled at the merger effective time and converted into rights to receive $3.15 in cash per underlying share
Performance stock units settled
112,250 units
PSUs vested one-for-one into common shares, then cancelled and converted into rights to receive $3.15 in cash per underlying share
Key Terms
tender offer, Agreement and Plan of Merger, Effective Time, performance-based stock unit
4 terms
tender offer regulatory
"tendered the shares of common stock in exchange for $3.15 per share in cash in the tender offer"
A tender offer is a proposal made by a person or company to buy shares from existing shareholders at a set price, usually higher than the current market value, within a specific time frame. It matters to investors because it can lead to a change in ownership or control of a company, and shareholders must decide whether to sell their shares at the offered price.
Agreement and Plan of Merger regulatory
"made pursuant to the Agreement and Plan of Merger, dated as of June 15, 2026"
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
Effective Time regulatory
"outstanding at the effective time of the merger (the "Effective Time") was cancelled"
The exact clock time when a regulatory filing, approval, or corporate action formally becomes legally active; from that moment the change is binding and can be acted on. Investors care because the effective time marks when ownership, rights, trading rules, or new securities take effect — like a light switch turning on a contract or transaction — which determines when risks, benefits and market reactions begin.
performance-based stock unit financial
"each outstanding performance-based stock unit of the Issuer (each, a "PSU") vested"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did Open Lending (LPRO) General Counsel Ben Massey report?
Ben Massey reported tendering 29,472 common shares at $3.15 per share and settling 151,777 RSUs plus 112,250 PSUs, which were cancelled and converted into rights to receive $3.15 in cash per underlying share under a merger agreement.
How were Ben Massey’s time-based RSUs in Open Lending (LPRO) treated in the merger?
Each time-based RSU, totaling 151,777 units, was cancelled and converted into the right to receive $3.15 in cash per underlying common share at the effective time of the merger, as provided in the merger agreement.
What happened to Ben Massey’s performance stock units (PSUs) at Open Lending (LPRO)?
The 112,250 outstanding PSUs vested on a one PSU for one common share basis immediately before the merger’s effective time, then were cancelled and converted into the right to receive $3.15 in cash per underlying share.