Opendoor Technologies Inc. appointed Michael Alfred as a Class I director, effective October 29, 2026, with a term expiring at the company’s 2027 annual meeting. He also joined the Nominating and Corporate Governance Committee effective October 29, 2026, and the Board determined he is independent under Nasdaq Stock Market listing standards. In connection with the appointment, he was granted 45,268 restricted stock units under the 2020 Incentive Award Plan as a prorated annual equity award; they vest in full on the date of the 2027 annual meeting, subject to his continued service. Alfred is founder and managing partner of Alpine Fox LP and serves on the boards of IREN Limited and Bakkt Holdings, Inc.
Opendoor Technologies Inc. (OPEN) appointed Kaz Nejatian President effective October 21, 2026, in addition to his existing roles as Chief Executive Officer and a member of the Board. Lucas Matheson stepped down as President on that date and remains employed as a non-executive Advisor to the Chief Executive Officer through July 15, 2027, on substantially the same terms and compensation.
Under Matheson’s transition agreement, if his employment ends on July 15, 2027, or the company terminates him earlier for any reason other than for cause, he is entitled to base salary through July 15, 2027, plus severance under the Executive Severance Plan. Nejatian’s compensation is not expected to change in connection with his appointment.
Opendoor Technologies Inc. (OPEN) Chief Operating Officer Giang Nguyen sold 10,393 shares on October 15, 2026, at a weighted average price of $1.974 per share; individual sales ranged from $1.935 to $2.005. The sale was made under a Rule 10b5-1 “sell to cover” election solely to satisfy tax withholding upon settlement of previously granted restricted stock awards. The footnote states that it was not a discretionary trade. Nguyen directly held 8,175,150 shares after the transaction.
Giang Nguyen, Opendoor Technologies Inc.’s Chief Operating Officer, reported a sale of 10,393 common shares on October 15, 2026, with an aggregate market value of $20,682.07. The stated purpose was to satisfy tax withholding upon settlement of previously granted restricted stock awards under a Rule 10b5-1 “sell to cover” election; the remarks say the sale was not discretionary.
Opendoor Technologies Inc. (OPEN) reported that Chief Financial Officer Christina Schwartz exercised 59,658 fully vested employee stock options on September 15, 2026, at an exercise price of $0.97 per share, receiving the same number of common shares.
Of these, 42,242 shares were withheld by the company at $2.65 per share to pay the option exercise price and satisfy tax withholding obligations through a net exercise, and she retained the remaining shares. The company states this withholding did not represent a discretionary trade by her, and no Rule 10b5-1 trading plan is reported.
Opendoor Technologies Inc. (OPEN) issued $650.0 million aggregate principal amount of 0.00% Convertible Senior Notes due 2030 in privately negotiated transactions. The notes are senior unsecured, bear no regular interest, and mature on August 15, 2030, unless earlier converted, redeemed, or repurchased.
The initial conversion rate is 212.2466 shares per $1,000, implying a conversion price of about $4.71 per share, a 35% premium to the $3.49 share price on August 12, 2026. Based on this rate, 137,960,290 shares would be issued upon conversion, with a maximum of 186,246,385 shares if the conversion rate is increased after specified events.
The company may redeem the notes for cash on or after February 22, 2029 if stock price and liquidity conditions are met, and must repurchase them at par plus applicable interest upon certain “Fundamental Change” events. Opendoor also entered into capped call transactions with a cap price of $6.98 per share, costing about $52.5 million, to reduce potential dilution or excess cash payments. Separately, on August 17, 2026, it repurchased about $158 million of its common stock, while the placement agent bought about $25 million of shares from transaction participants.
Opendoor Technologies Inc. director and Chief Executive Officer Kasra Nejatian purchased 27,625 shares of common stock in an open-market transaction on 2026-08-14 at a weighted average price of about $3.62 per share, with individual trade prices ranging from $3.6150 to $3.6200. After this purchase, Nejatian directly holds 83,605,924 shares of Opendoor common stock. The transaction was executed in accordance with the company’s Insider Trading and Trading Window Policy and was not reported as made under a Rule 10b5-1 trading plan.
Morgan Stanley and its affiliate Morgan Stanley Investment Management Inc. report significant passive ownership positions in Opendoor Technologies Inc. common stock as of 06/30/2026. Morgan Stanley reports beneficial ownership of 111,627,421 shares, while Morgan Stanley Investment Management Inc. reports 111,150,363 shares.
Each reporting person indicates beneficial ownership of 11.5% of Opendoor’s outstanding common stock, with no sole voting or dispositive power. Morgan Stanley reports 106,465,634 shares with shared voting power and 111,627,421 shares with shared dispositive power; Morgan Stanley Investment Management Inc. reports 106,060,014 and 111,150,363 shares, respectively.
Opendoor Technologies entered into subscription agreements to issue $650 million of 0.00% Convertible Senior Notes due 2030 in a private placement. The notes are senior unsecured, bear no cash interest, and mature on August 15, 2030, with holder conversion rights beginning broadly after February 15, 2030.
The initial conversion rate is 212.2466 shares per $1,000 (conversion price about $4.71 per share), a 35% premium to the $3.49 share price on August 12, 2026, implying up to 137,960,290 shares if fully converted. Opendoor plans to use $158 million of proceeds to repurchase about 45.3 million shares (around 5% of shares outstanding) at $3.49 and about $52.5 million for capped call transactions with a $6.98 cap to limit dilution, leaving roughly $440 million of net growth capital before expenses.
Opendoor Technologies Inc. buys and sells homes through a digital platform and reported softer results for the quarter ended June 30, 2026. Revenue was $883 million with gross profit of $86 million and gross margin of 9.7%, while net loss widened to $162 million (basic and diluted loss per share of $0.17). The company sold 2,339 homes and purchased 4,378, ending with 5,459 homes in inventory valued at $1.845 billion; 9% of homes had been on the market more than 120 days, down from 36% a year earlier.
Operating expenses reached $230 million, including $119 million of stock-based compensation, largely from market-condition RSUs. Operating cash flow for the first half of 2026 was an outflow of $964 million, including $932 million used to increase real estate inventory. As of June 30, 2026, Opendoor held $896 million in cash and cash equivalents and $66 million in restricted cash, against $1.762 billion of non-recourse asset-backed debt and $197 million of convertible senior notes principal. Management highlights disciplined pricing, inventory valuation adjustments of $14 million in the quarter, and a focus on partnerships and new services, including a recently launched mortgage product.