Opendoor (OPEN) files Form 144/A for 7M-share sale via Morgan Stanley

Rhea-AI Filing Summary

Opendoor Technologies (OPEN) filed a Form 144/A giving notice of a proposed sale of 7,000,000 common shares through Morgan Stanley Smith Barney LLC on the NASDAQ with an aggregate market value of $34,951,350.00 and an approximate sale date of 09/02/2025. The filing reports 735,954,186 shares outstanding for the issuer.

The securities being offered were acquired on 09/15/2021 as restricted stock vesting under a registered plan and were paid for on that same date. The filer certifies they do not possess undisclosed material adverse information about the issuer and includes the standard attestation language required by the form.

Positive

• Transparent disclosure of the proposed sale including broker, share count and aggregate market value
• Origin of shares disclosed as restricted stock vesting under a registered plan with acquisition and payment date (09/15/2021)

Negative

• Insider is proposing to sell a large block of 7,000,000 shares, which could increase selling pressure
• No trading-plan date provided in the filing to indicate whether sales are pursuant to a Rule 10b5-1 plan

Insights

Financial Analyst

TL;DR: Insider plans to sell 7,000,000 vested shares, disclosed via Form 144/A.

The filing is a routine Rule 144 notice disclosing a proposed sale of common shares by a person for whose account the securities are to be sold. It specifies the broker, the aggregate market value of the proposed sale, the acquisition date and nature (restricted stock vesting), and confirms no undisclosed material adverse information. For investors, the filing provides transparency about insider liquidity but does not by itself indicate operational changes or new financial information about the company.

Corporate Governance Expert

TL;DR: Compliance filing documents an insider sale from vested restricted shares and includes required attestation.

From a governance standpoint, the document meets Form 144/A requirements by identifying the broker, share amount, acquisition details and the filer’s attestation regarding material information. The filing shows the insider is monetizing vested equity that originated from a registered plan; the disclosure supports market transparency but does not disclose any trading plan date or additional context about the reasons for the sale.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144/A

144/A: Filer Information

Filer CIK
Filer CCC
Previous Accession Number Of The Filing
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144/A: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144/A: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	7000000	34951350.00	735954186	09/02/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144/A: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/15/2021	Restricted stock vesting under a registered plan	Issuer			7000000	09/15/2021	Not Applicable

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144/A: Securities Sold During The Past 3 Months

Nothing to Report

144/A: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the OPEN Form 144/A disclose about the number of shares to be sold?

The filing discloses a proposed sale of 7,000,000 common shares.

Who is the broker handling the proposed OPEN share sale?

The broker named in the filing is Morgan Stanley Smith Barney LLC.

What is the aggregate market value of the OPEN shares in the Form 144/A?

The aggregate market value is reported as $34,951,350.00.

When were the OPEN shares being sold originally acquired?

The shares were acquired on 09/15/2021 via restricted stock vesting under a registered plan.

What is the approximate date of the proposed sale reported in the Form 144/A?

The filing lists an approximate sale date of 09/02/2025.

Does the Form 144/A indicate any undisclosed material information about OPEN?

The filer represents that they do not know any material adverse information about the issuer that has not been publicly disclosed.