Opendoor (OPEN) director-affiliated Len X, LLC receives 14,282 RSUs in 2026 grant

Rhea-AI Filing Summary

Opendoor Technologies Inc. reported that an entity associated with director Eric Feder received a new equity award. On February 17, 2026, Len X, LLC, a wholly owned subsidiary of Lennar Corporation, acquired 14,282 shares of Opendoor common stock in the form of restricted stock units granted under Opendoor’s non-employee director compensation policy.

The RSUs were issued in lieu of $90,000 in cash retainer fees and will vest in four substantially equal installments on the last trading day of each quarter in 2026, subject to Feder’s continued service as a non-employee director. Following this grant, Len X, LLC is reported as holding 212,535 shares of Opendoor common stock. Feder disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.

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

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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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Feder Eric

(Last) (First) (Middle)

1295 WEST WASHINGTON STREET, SUITE 115

(Street)

TEMPE AZ 85288

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Opendoor Technologies Inc. [ OPEN ]

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)
02/17/2026

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
Common Stock	02/17/2026		A		14,282(1)	A	$0	212,535	I	Len X, LLC(2)

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

Explanation of Responses:

1. These restricted stock units ("RSUs") were issued to the Reporting Person pursuant to the Issuer's Non-Employee Director Compensation Policy in lieu of retainer fees of $90,000.00. The RSUs vest in four substantially equal installments on the last trading day in each quarter occurring during 2026, subject to the Reporting Person's continued service to the Issuer as a non-employee director through the applicable vesting date.

2. The reported shares are owned by Len X, LLC, a wholly-owned subsidiary of Lennar Corporation. The Reporting Person is the President of Len X, LLC. The Reporting Person is a minority shareholder of Lennar Corporation, owning less than one percent of Lennar Corporation's outstanding shares. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Remarks:

	/s/ Christina Schwartz, Attorney-in-fact	02/19/2026
	** 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

What insider equity award did Opendoor (OPEN) report for Eric Feder?

Opendoor reported a grant of 14,282 restricted stock units to Len X, LLC, an entity associated with director Eric Feder. The award represents equity compensation issued under Opendoor’s Non-Employee Director Compensation Policy in lieu of cash retainer fees of $90,000.

Who actually owns the Opendoor (OPEN) shares reported in this Form 4?

The reported Opendoor shares are owned by Len X, LLC, a wholly owned subsidiary of Lennar Corporation. Eric Feder is President of Len X, LLC and a minority Lennar shareholder, and he disclaims beneficial ownership except to the extent of his pecuniary interest.

How do the new Opendoor (OPEN) RSUs for Eric Feder vest?

The 14,282 restricted stock units vest in four substantially equal installments on the last trading day of each quarter in 2026. Vesting is conditioned on Eric Feder’s continued service as a non-employee director of Opendoor through each applicable vesting date.

What is the value basis of the Opendoor (OPEN) RSU grant to Len X, LLC?

The RSUs were issued in lieu of $90,000 in director retainer fees under Opendoor’s Non-Employee Director Compensation Policy. Instead of receiving cash, the associated entity received equity, tying compensation to Opendoor’s stock performance over time.

How many Opendoor (OPEN) shares does Len X, LLC hold after this transaction?

After the reported grant, Len X, LLC is shown as owning 212,535 shares of Opendoor common stock. This figure includes the newly awarded restricted stock units, subject to the vesting schedule and Feder’s continued service as a non-employee director in 2026.

Did Eric Feder directly buy or sell Opendoor (OPEN) stock in this Form 4?

No direct open-market buy or sell occurred. The filing reports an acquisition coded as a grant or award of restricted stock units to Len X, LLC as compensation. The transaction price per share is reported as 0.0000, reflecting its compensatory, non-cash nature.