---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-169305"
form_type: "8-K"
ticker: "OPAD"
cik: "0001825024"
company_name: "Offerpad Solutions Inc."
filed_at: "2022-06-07T23:59:59+00:00"
generated_at: "2026-06-25T04:03:54.771800+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Offerpad Solutions increases credit facility to $600M, extends maturity, and announces executive transitions

## Summary
- Borrowing capacity increased from $400M to $600M and maturity extended to June 2024 under Third Amended and Restated Master Loan and Security Agreement.
- Stephen Johnson transitions from COO to Chief Strategy Officer effective June 2, 2022.
- CFO Michael Burnett and CLO Benjamin Aronovitch entered amended employment agreements with base salaries of $400,000 and $375,000, respectively.
- At annual meeting, shareholders elected three Class I directors (Bair, Sella, DeGiorgio) and ratified Deloitte & Touche as auditor for fiscal 2022.
- Shareholders recommended a say-on-pay vote every year; Board adopted that frequency.

## SEC filing metadata
- accession: 0001193125-22-169305
- form_type: 8-K
- ticker: OPAD
- cik: 0001825024
- company_name: Offerpad Solutions Inc.
- filed_at: 2022-06-07T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1825024/000119312522169305/0001193125-22-169305-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1825024/000119312522169305/d337444d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-169305
- JSON: https://secwatch.observer/filing/0001193125-22-169305.json
- Plain text: https://secwatch.observer/filing/0001193125-22-169305.txt

## Key facts
- Executive change
  Stephen Johnson changed role as Chief Strategy Officer at Offerpad Solutions Inc..
  - Action: transitioned
  - Role: Chief Strategy Officer
  source text: Effective June 2, 2022, Stephen Johnson, the Company’s former Chief Operating Officer, transitioned to the role of Chief Strategy Officer to further support the Company’s strategic efforts and priorities.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1825024/000119312522169305/0001193125-22-169305-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.