Director Eric Wu increases OPEN stake to 1.65M shares via private purchase

Rhea-AI Filing Summary

Opendoor Technologies Inc. (OPEN) director Eric Chung-Wei Wu purchased 451,127 shares on 09/11/2025 at $6.65 per share, increasing his beneficial ownership to 1,649,884 shares. The stock was acquired under a Stock Purchase Agreement in an offering exempt from registration under Section 4(a)(2) and Regulation D; the shares are restricted and subject to transfer limitations until registered or otherwise eligible for resale. The Form 4 was signed by an attorney-in-fact on 09/15/2025.

Positive

• Director purchase of 451,127 shares increases insider ownership to 1,649,884 shares
• Transaction executed at a clear price of $6.65 per share, fully disclosed on Form 4
• Acquisition reported under a Stock Purchase Agreement complying with required Form 4 disclosure

Negative

• Shares are restricted and subject to transfer limitations until registered or otherwise eligible for resale
• Acquisition was in a private exempt offering (Section 4(a)(2)/Reg D), limiting immediate market liquidity of these shares

Insights

Financial Analyst

TL;DR: A director bought a material block of shares at $6.65, increasing insider ownership and signaling possible confidence.

The purchase of 451,127 shares by a director represents a meaningful increase in insider stake to 1,649,884 shares, disclosed on Form 4. The transaction price of $6.65 is explicit and the acquisition was done under a private placement exempt from registration. For investors, insider purchases can be a positive signal because they align management interests with shareholders; however, these shares are restricted pending registration or resale eligibility, which limits immediate liquidity and secondary-market impact.

Corporate Governance Expert

TL;DR: Director acquisition disclosed properly, but transfer restrictions mean the economic stake is locked until registration or resale eligibility.

The Form 4 shows appropriate Section 16 reporting for a director-level purchase executed via a Stock Purchase Agreement under Regulation D exemptions. The filing notes transfer restrictions, which are important from a governance and disclosure perspective because they constrain the timing of any potential selling activity. The document is routine and compliant, with an attorney-in-fact signature dated 09/15/2025.

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
Estimated average burden
hours per response:			0.5

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^*

Wu Eric Chung-Wei

(Last) (First) (Middle)

410 N. SCOTTSDALE ROAD, SUITE 1000

(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)
09/11/2025

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
Common Stock	09/11/2025		P(1)		451,127	A	$6.65	1,649,884	D

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. The Reporting Person purchased the shares pursuant to a Stock Purchase Agreement by and between the Issuer and the Reporting Person in an offering exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended, and Regulation D thereunder. The shares are restricted securities subject to transfer restrictions until such time that they are registered pursuant to a registration statement or become eligible for resale otherwise.

Remarks:

	/s/ Sydney Schaub, Attorney-in-fact	09/15/2025
	** 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

What did Opendoor director Eric Wu report on Form 4 (OPEN)?

The director purchased 451,127 shares on 09/11/2025 at $6.65 per share, increasing beneficial ownership to 1,649,884 shares.

How were the OPEN shares purchased by the director acquired?

The shares were purchased under a Stock Purchase Agreement in an offering exempt from registration under Section 4(a)(2) and Regulation D.

Are the OPEN shares purchased by the director immediately tradable?

No. The filing states the shares are restricted securities subject to transfer restrictions until they are registered or otherwise eligible for resale.

When was the Form 4 signed and who signed it?

The Form 4 was signed by an attorney-in-fact, Sydney Schaub, on 09/15/2025.

What is the reporting person’s relationship to Opendoor?

The reporting person, Eric Chung-Wei Wu, is listed as a Director of Opendoor Technologies Inc.