Offerpad adds director as board expands to seven
Offerpad Solutions Inc. (OPAD) reports that its Board of Directors increased its size from six to seven members and appointed Benjamin Graboske as a Class III director effective September 3, 2026.
Rhea-AI Filing Summary
Offerpad Solutions Inc. (OPAD) reports that its Board of Directors increased its size from six to seven members and appointed Benjamin Graboske as a Class III director effective September 3, 2026. His term runs until the 2027 Annual Meeting of Stockholders and until a successor is elected and qualified or an earlier departure event occurs.
Graboske was also appointed to the Board’s Nominating and Corporate Governance Committee. The company states there was no arrangement or understanding leading to his selection and no related person transactions with him. He will receive compensation under the existing Non-Employee Director Compensation Program and may defer cash retainers and restricted stock unit settlements under the Non-Employee Director Deferred Compensation Plan, and is expected to enter into the standard director and officer indemnification agreement.
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8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Board size after change: 7 directors
Board size before change: 6 directors
Director term end reference: 2027 Annual Meeting of Stockholders
+1 more
4 metrics
Board size after change
7 directors
Board size increased from six to seven members approved on September 3, 2026
Board size before change
6 directors
Size of the Board prior to appointment of Benjamin Graboske
Director term end reference
2027 Annual Meeting of Stockholders
Expiration reference for Benjamin Graboske’s Class III director term
Effective appointment date
September 3, 2026
Date Benjamin Graboske was appointed as director and committee member
Key Terms
Class III director, Nominating and Corporate Governance Committee, Non-Employee Director Compensation Program, Non-Employee Director Deferred Compensation Plan, +1 more
5 terms
Class III director regulatory
"appointed Benjamin Graboske as a Class III director of the Company"
A Class III director is a board member placed in one of the numbered groups used by companies with a staggered (or “classified”) board; that director’s seat typically comes up for election in the third year of a three-year rotation. For investors this matters because staggered terms create continuity but also make it harder to replace the whole board quickly, affecting shareholder influence, takeover dynamics and how fast new strategy or accountability can be implemented — like replacing only some players on a sports team each season instead of the whole roster at once.
Nominating and Corporate Governance Committee regulatory
"upon the recommendation of the Nominating and Corporate Governance Committee"
A nominating and corporate governance committee is a group within a company's board of directors responsible for selecting and recommending individuals to serve as company leaders, such as directors or executives. They also develop and oversee policies to ensure the company is run fairly, ethically, and transparently. This committee matters to investors because it helps ensure the company is well-managed and guided by qualified, responsible leadership.
Non-Employee Director Compensation Program financial
"in accordance with the Company’s Amended and Restated Non-Employee Director Compensation Program"
Non-Employee Director Deferred Compensation Plan financial
"Pursuant to the Company’s Non-Employee Director Deferred Compensation Plan"
indemnification agreement regulatory
"We expect Mr. Graboske to enter into our standard indemnification agreement"
An indemnification agreement is a contract in which one party promises to cover losses, costs, or legal claims that another party might face, acting like a tailored safety net or private insurance policy. For investors, it matters because such agreements shift potential financial risk away from a company or its officers and onto the indemnifier, which can affect a company’s future liabilities, cash flow and how risky the investment appears during deal-making or litigation.
FAQ
What board change did Offerpad Solutions Inc. (OPAD) announce?
Offerpad Solutions Inc. increased the size of its Board of Directors from six to seven members and appointed Benjamin Graboske to fill the new seat as a Class III director effective September 3, 2026.
Who is the new director appointed to Offerpad (OPAD) and what is his term?
Offerpad appointed Benjamin Graboske as a Class III director, effective September 3, 2026, with a term expiring at the company’s 2027 Annual Meeting of Stockholders, and continuing until a successor is elected and qualified or earlier departure.
Which board committee will Benjamin Graboske serve on at Offerpad (OPAD)?
Benjamin Graboske was appointed to the Nominating and Corporate Governance Committee of Offerpad’s Board, effective September 3, 2026, in addition to his role as a Class III director.
How will the new Offerpad (OPAD) director be compensated?
Benjamin Graboske will receive compensation under Offerpad’s Amended and Restated Non-Employee Director Compensation Program, which governs director pay, and may also defer cash retainers and restricted stock unit settlements under the company’s Non-Employee Director Deferred Compensation Plan.
Can the new Offerpad (OPAD) director defer his compensation?
Yes. Under Offerpad’s Non-Employee Director Deferred Compensation Plan, Benjamin Graboske may defer all or part of his annual cash retainers and the settlement of all or part of his restricted stock unit awards, subject to the plan’s terms.
AI-generated analysis. How Rhea-AI works. Not financial advice.
