OppFi (NYSE: OPFI) director shifts 284,501 units into Class A stock via Exchange Rights
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
OppFi Inc. director David Vennettilli reported internal equity restructuring involving Class A and Class V interests, without any open-market buying or selling. A trust associated with him, DAV 513 Revocable Trust, exercised Exchange Rights on April 28, 2026 to convert 284,501 Class A Common Units in Opportunity Financial, LLC into 284,501 shares of OppFi Class A Common Stock.
In connection with this exchange, 284,501 shares of Class V Common Stock, which represented voting, non-economic interests, were cancelled and disposed of to the issuer by OppFi Shares, LLC. After these transactions, Vennettilli also holds 142,389 shares of Class A Common Stock directly. The transactions reflect a shift from non-economic and non-voting positions into ordinary Class A equity.
Positive
- None.
Negative
- None.
Insider Trade Summary
284,501 shares exercised/converted
Mixed
4 txns
Insider
Vennettilli David
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Class A Common Units | 284,501 | $0.00 | -- |
| Disposition | Class V Common Stock | 284,501 | $0.00 | -- |
| Exercise | Class A Common Stock | 284,501 | $0.00 | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Units — 0 shares (Indirect, By DAV 513 Revocable Trust);
Class V Common Stock — 0 shares (Indirect, By OppFi Shares, LLC);
Class A Common Stock — 284,501 shares (Indirect, By DAV 513 Revocable Trust);
Class A Common Stock — 142,389 shares (Direct, null)
Footnotes (1)
- Shares of Class V common stock, par value $0.0001 per share ("Class V Common Stock"), of OppFi Inc. (the "Issuer") represented voting, non-economic interests in the Issuer. Except as provided in the Issuer's certificate of incorporation, as amended, or as required by applicable law, holders of Class V Common Stock were entitled to one vote per share of Class V Common Stock on all matters to be voted on by the Issuer's stockholders generally. The shares of Class V Common Stock would be cancelled by the Issuer if the reporting person exercised (or caused DAV (as defined below in footnote 5) to exercise) Exchange Rights (as defined below in footnote 6). Reflects the cancellation of shares of Class V Common Stock in connection with the exercise of the Exchange Rights with respect to an equivalent number of Class A common units ("Common Units") of Opportunity Financial, LLC ("Opportunity Financial"). The shares of Class V Common Stock were held by OppFi Shares, LLC ("OFS"), which had sole voting power over the shares of Class V Common Stock reported in Table I hereof. The reporting person had the indirect right to cause OFS to dispose of the shares of Class V Common Stock reported in Table I hereof to the Issuer pursuant to the reporting person's (or DAV's) Exchange Rights. Reflects shares of Class A common stock, par value $0.0001 per share, of the Issuer ("Class A Common Stock") received in connection with the exercise of the Exchange Rights by DAV. These securities are held by DAV 513 Revocable Trust ("DAV"), of which the reporting person is the sole trustee and sole beneficiary. DAV is a member of Opportunity Financial and the reporting person had the right to cause DAV to exercise for the benefit of the reporting person DAV's Exchange Rights with respect to the Common Units indirectly held by the reporting person. Common Units of Opportunity Financial generally represented economic, non-voting interests in Opportunity Financial. The Issuer is the sole manager of Opportunity Financial and controls Opportunity Financial, except as provided by the Third Amended and Restated Limited Liability Company Agreement of Opportunity Financial (the "LLC Agreement") or applicable law. Pursuant to the LLC Agreement, each Common Unit could be exchanged by the holder from time to time for either one share of Class A Common Stock or, at the election of the Issuer in its capacity as the sole manager of Opportunity Financial, the cash equivalent of the market value of one share of Class A Common Stock (the "Exchange Rights").
Key Figures
Class A shares received: 284,501 shares
Class V shares cancelled: 284,501 shares
Direct Class A holdings: 142,389 shares
+2 more
5 metrics
Class A shares received
284,501 shares
Class A Common Stock received via Exchange Rights on April 28, 2026
Class V shares cancelled
284,501 shares
Class V Common Stock cancelled in connection with the same exchange
Direct Class A holdings
142,389 shares
Class A Common Stock held directly following the transactions
Exchange exercise size
284,501 units
Common Units of Opportunity Financial, LLC exchanged under Exchange Rights
Exercise transactions
1 transaction
Derivative exercise/conversion counted in transaction summary
Key Terms
Class V Common Stock, Exchange Rights, Common Units, Revocable Trust, +1 more
5 terms
Class V Common Stock financial
"Shares of Class V common stock, par value $0.0001 per share ("Class V Common Stock"), of OppFi Inc."
Exchange Rights financial
"The shares of Class V Common Stock would be cancelled by the Issuer if the reporting person exercised ... Exchange Rights"
Common Units financial
"an equivalent number of Class A common units ("Common Units") of Opportunity Financial, LLC"
Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.
Revocable Trust financial
"These securities are held by DAV 513 Revocable Trust ("DAV"), of which the reporting person is the sole trustee"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
LLC Agreement financial
"as provided by the Third Amended and Restated Limited Liability Company Agreement of Opportunity Financial (the "LLC Agreement")"
FAQ
What did OppFi (OPFI) director David Vennettilli report in this Form 4?
He reported an internal equity restructuring involving Exchange Rights, converting 284,501 Common Units into 284,501 Class A shares. The move consolidated his interests into standard Class A Common Stock rather than non-economic or non-voting instruments.
What happened to the Class V Common Stock in this OppFi (OPFI) insider filing?
OppFi Shares, LLC disposed of and saw cancelled 284,501 shares of Class V Common Stock. These shares represented voting, non-economic interests and were cancelled in connection with the same Exchange Rights transaction that produced the new Class A shares.