Open Lending (LPRO) Director Receives 13,933 Restricted Stock Units

Rhea-AI Filing Summary

Reporting person: Todd C. Hart, Director of Open Lending Corp (LPRO), filed a Form 4 disclosing a grant of restricted stock units.

Transaction details: On 09/25/2025 Mr. Hart was granted 13,933 restricted stock units (RSUs), each representing a contingent right to receive one share of LPRO common stock. The RSUs carry no purchase price ($0) and are reported as direct ownership of 13,933 units following the grant. The RSUs vest on the earlier of September 25, 2026 or the next annual meeting of stockholders following the grant date. The Form 4 was signed by an attorney-in-fact on 09/29/2025.

Positive

• 13,933 restricted stock units granted to the reporting director on 09/25/2025
• Vesting terms specified: earlier of 09/25/2026 or next annual stockholders meeting

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received a time-based RSU grant of 13,933 shares with a one-year or event-based vesting condition.

The filing documents a routine director equity grant: 13,933 RSUs granted 09/25/2025, vesting the earlier of 09/25/2026 or the next annual meeting. The award is reported as direct beneficial ownership with no cash price. For governance review, the grant timing, size and one-year/event vesting clause are relevant to assessing alignment with shareholder interests and typical board compensation practices.

Compensation Analyst

TL;DR: The disclosure shows a single, straightforward RSU award to a director with standard time/event vesting.

The Form 4 reports an RSU grant of 13,933 units convertible to common stock and carrying a $0 per-unit price. Vesting is specified as the earlier of one year or the next annual meeting, which is a clear, time-based vesting schedule rather than performance-based. This distinguishes the award’s mechanics for reviewing dilution impact and executive/director compensation mix when aggregated with other equity grants.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Hart Todd C

(Last) (First) (Middle)

C/O OPEN LENDING CORPORATION

1501 S. MOPAC EXPRESSWAY, SUITE 450

(Street)

AUSTIN TX 78746

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2025

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	09/25/2025		A		13,933		(2)	(2)	Common Stock, par value $0.01 per share	13,933	$0	13,933	D

Explanation of Responses:

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

2. These restricted stock units will vest on the earlier of (i) September 25, 2026 and (ii) the next annual meeting of the Issuer's stockholders following the date of the grant.

Remarks:

	/s/ Matthew Stark, as Attorney-in-Fact	09/29/2025
	** 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 4 (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

Who filed the Form 4 for LPRO?

The Form 4 was filed for Todd C. Hart, identified as a Director of Open Lending Corp (LPRO).

What security was acquired according to the Form 4?

The reporting person was granted 13,933 restricted stock units (RSUs), each representing a contingent right to one share of LPRO common stock.

When were the RSUs granted and when do they vest?

The RSUs were granted on 09/25/2025 and vest on the earlier of 09/25/2026 or the next annual meeting of stockholders following the grant.

What price was reported for the RSU grant?

The Form 4 reports a price of $0 per restricted stock unit.

How many shares does the reporting person beneficially own following the transaction?

The filing reports 13,933 RSUs as beneficially owned following the reported transaction.