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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.
Open Lending Corp (LPRO) disclosed that its Chief Underwriting Officer filed a report for a transaction in the company’s common stock on 11/19/2025. The filing shows activity in 40,000 shares of common stock, at a weighted average price of $1.52 per share, executed through multiple trades between $1.5099 and $1.53.
Following this transaction, the officer is reported to beneficially own 44,363 shares of Open Lending common stock in direct ownership. The report notes that detailed trade-by-trade pricing within the disclosed range is available upon request to the company, any security holder, or the SEC staff.
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.
Open Lending Corp (LPRO) reported the equity holdings of its General Counsel, who is an officer of the company. As of the event dated 11/07/2025, the officer beneficially owns 10,757 shares of Open Lending common stock directly.
The officer also holds 83,656 restricted stock units (RSUs), each representing a contingent right to receive one share of LPRO common stock. These RSUs include 9,040 units that vest in two equal annual installments beginning on March 15, 2026, 18,750 units that vest in three equal annual installments beginning on March 15, 2026, and 55,866 units that vest in four equal annual installments beginning on March 15, 2026.
Open Lending Corporation reported Q3 results with total revenue of $24.2 million and a net loss of $7.6 million. Operating loss was $7.7 million, driven largely by a one-time $11.0 million payment tied to an amendment of a reseller agreement with Allied, recorded in general and administrative expense.
Program fees were $13.3 million and profit share revenue was $8.5 million, reflecting lower anticipated profit share on new originations but a positive change in prior-period estimates. Certified loans totaled 23,880 versus 27,435 a year ago, while average program fee per loan rose 8%. Cash and cash equivalents were $222.1 million and term loan principal outstanding was $135.0 million as of September 30, 2025. Cash from operations for the nine-month period was $(8.6) million, reflecting the Allied payment and softer collections.
The company repurchased 1,971,369 shares for $4.0 million under its authorization and remained in compliance with credit covenants. A shareholder class action filed in May 2025 was dismissed without prejudice in October 2025.
Open Lending Corporation furnished an Item 2.02 Form 8-K stating it issued a press release announcing financial results for the fiscal quarter ended September 30, 2025. The company attached an earnings release and supplemental financial information as Exhibit 99.1 and Exhibit 99.2, respectively. The company noted this information is furnished and shall not be deemed filed under the Exchange Act.
Open Lending (LPRO) insider transaction: Matthew Stark, Chief Legal and Compliance Officer, reported equity activity on 10/19/2025. Restricted stock units vested and converted into 18,301 shares of common stock at a stated price of $0 under transaction code M. A separate entry shows 4,456 shares disposed at $1.95 under transaction code F.
Following these transactions, the filing lists 73,270 shares of common stock beneficially owned directly. The derivative table shows 138,555 restricted stock units beneficially owned following the reported transactions. The filing notes these RSUs represent a contingent right to receive one share of LPRO common stock each and vested on October 19, 2025.
Open Lending Corporation disclosed an executive transition: its Chief Legal and Compliance Officer and Corporate Secretary, Matthew Stark, resigned effective November 7, 2025, and the company appointed Ben Massey to serve as General Counsel and Corporate Secretary effective the same date. Mr. Massey, age 40, has served at the company since October 2022 in governance and securities roles and as Assistant General Counsel since January 2024; he previously practiced at Simpson Thacher & Bartlett LLP. The company agreed an offer letter providing a $325,000 base salary, a target annual cash bonus of 75% of base, and a long‑term incentive target equal to 100% of base salary, plus standard benefits and an officer indemnification agreement.
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.
Open Lending Corp (LPRO) Form 3: Todd C. Hart, identified as a director of Open Lending Corporation, filed an initial Form 3 reporting that he does not beneficially own any securities of the issuer. The event requiring the statement is dated 09/25/2025. The filing was signed on behalf of the reporting person by Matthew Stark, as Attorney-in-Fact, on 09/29/2025. The form lists the reporting person's business address at C/O Open Lending Corporation, 1501 S. Mopac Expressway, Suite 450, Austin, TX 78746. No non-derivative or derivative securities are reported as owned.