Opendoor director-linked entity granted 41,667 RSUs
Opendoor Technologies Inc. reported that Len X, LLC, an entity associated with director Eric Feder, acquired 41,667 shares of common stock through a restricted stock unit (RSU) award under the non-employee director compensation policy.
Rhea-AI Filing Summary
Opendoor Technologies Inc. reported that Len X, LLC, an entity associated with director Eric Feder, acquired 41,667 shares of common stock through a restricted stock unit (RSU) award under the non-employee director compensation policy. The award was granted at no cash cost and is subject to time-based vesting.
Each RSU represents a right to receive one share of common stock and will fully vest on the earlier of the company’s next annual stockholder meeting or June 11, 2027, assuming continued board service. Following this grant, Len X, LLC’s indirect holdings reported for Feder total 254,202 shares, with Feder disclaiming beneficial ownership beyond his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 41,667 shares
Grant/Award
1 txn
Insider
Feder Eric
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 41,667 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 254,202 shares (Indirect, Len X, LLC)
Footnotes (2)
- F1. Represents an equal number of restricted stock unit ("RSU") award granted to the Reporting Person pursuant to the Issuer's non-employee director compensation policy and subject to time-based vesting. Each RSU represents a contingent right to receive one share of the Issuer's common stock. The RSUs fully vest on the earlier to occur of (a) the date of the Issuer's next annual meeting of stockholders or (b) June 11, 2027, in each case subject to the Reporting Person's continued service to the Issuer as a non-employee director through the applicable vesting date.
- F2. 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.
Key Figures
RSU grant size: 41,667 shares
Grant price: $0.00 per share
Holdings after grant: 254,202 shares
+2 more
5 metrics
RSU grant size
41,667 shares
Restricted stock unit award to entity associated with director
Grant price
$0.00 per share
Compensation grant, not an open-market purchase
Holdings after grant
254,202 shares
Indirect Opendoor common stock held by Len X, LLC after transaction
RSU full vesting date
June 11, 2027
RSUs vest earlier of next annual meeting or this date
Lennar ownership by Feder
Less than 1%
Feder’s minority share of Lennar Corporation outstanding shares
Key Terms
restricted stock unit ("RSU"), time-based vesting, non-employee director compensation policy, pecuniary interest, +1 more
5 terms
restricted stock unit ("RSU") financial
"Represents an equal number of restricted stock unit ("RSU") award granted to the Reporting Person"
time-based vesting financial
"award granted to the Reporting Person pursuant to the Issuer's non-employee director compensation policy and subject to time-based vesting"
Time-based vesting is a schedule that gives employees or contractors ownership of granted stock or options gradually as they remain with a company, like unlocking rewards in a loyalty program the longer you stick around. For investors, it matters because it affects future share supply, management incentives and staff retention — all of which can influence company performance and dilution of existing shareholders.
non-employee director compensation policy financial
"award granted to the Reporting Person pursuant to the Issuer's non-employee director compensation policy"
pecuniary interest financial
"The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein"
wholly-owned subsidiary financial
"The reported shares are owned by Len X, LLC, a wholly-owned subsidiary of Lennar Corporation"
A wholly-owned subsidiary is a company whose entire ownership is held by another company, called the parent, so the parent controls all shares, board appointments and major decisions. For investors this matters because the subsidiary’s profits, losses, assets and liabilities are treated as part of the parent’s financial picture, affecting valuation and risk exposure — imagine a parent owning a single storefront outright and consolidating its receipts and bills into the parent’s books.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did the Opendoor (OPEN) Form 4 filing report for Eric Feder?
The filing reports that an entity associated with director Eric Feder, Len X, LLC, acquired 41,667 Opendoor common shares via a restricted stock unit award. This was compensation under the non-employee director policy rather than an open-market purchase and involved no cash paid per share.
What is the vesting schedule for Eric Feder’s Opendoor (OPEN) RSUs?
The 41,667 restricted stock units fully vest on the earlier of Opendoor’s next annual stockholder meeting or June 11, 2027. Vesting is conditioned on Eric Feder’s continued service as a non-employee director through the applicable vesting date, according to the compensation policy.
Is the Opendoor (OPEN) transaction a market purchase by Eric Feder?
No, the transaction is a grant of 41,667 restricted stock units as director compensation, not a market purchase. The reported price per share is zero, indicating an award rather than a buy order, and the shares are held indirectly through Len X, LLC, linked to Lennar Corporation.
AI-generated analysis. How Rhea-AI works. Not financial advice.
