8-K
filed October 6, 2022, 7:59 PM ET
ticker LPRO
CIK 0001806201
leadership
confidence high
sentiment neutral
materiality 0.65
Open Lending appoints Keith Jezek as CEO; co-founder Flynn becomes Chairman
Open Lending Corp
- John Flynn retires as CEO, becomes Chairman; Ross Jessup retires as President/COO, moves to advisory role.
- Keith Jezek appointed CEO and board member; previously led Cox Automotive Retail Solutions Group.
- Jezek gets $550k base salary, target bonus 100% of base, annual LTI target $4M (60% performance RSUs, 40% time-based RSUs).
- Initial equity grant of 825,000 time-based RSUs vesting 25% at 12 months then monthly over 36 months.
- Flynn receives $45,833/month consulting fee for up to 1 year, plus healthcare and equity vesting; FY2022 guidance reaffirmed.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Keith A. Jezek was appointed as Chief Executive Officer at Open Lending Corp.
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
Keith A. Jezek, age 58, to succeed Mr. Flynn as Chief Executive Officer of the Company and elected Mr. Jezek as a member of the Board, each effective as of the same date.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Ross M. Jessup retired as President and Chief Operating Officer at Open Lending Corp.
- Action
- retired
- Role
- President and Chief Operating Officer
Exact text from the filing
Ross M. Jessup retired from his positions as President and Chief Operating Officer and as a member of the Board effective as of October 5, 2022.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jessica Snyder was appointed as Vice Chair of the Board at Open Lending Corp.
- Action
- appointed
- Role
- Vice Chair of the Board
Exact text from the filing
Jessica Snyder, a current director who serves as Chair of the Audit Committee of the Board, was appointed Vice Chair of the Board, effective as of the same date.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
John J. Flynn was appointed as Chairman at Open Lending Corp.
- Action
- retired as Chief Executive Officer, appointed as Chairman
- Role
- Chairman
Exact text from the filing
John J. Flynn retired from his position as Chief Executive Officer and that the Board of Directors of the Company (the “Board”) appointed Mr. Flynn to the Board as its Chairman, each effective as of the same date.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Keith A. Jezek was elected as member of the Board at Open Lending Corp.
- Action
- elected
- Role
- member of the Board
Exact text from the filing
Keith A. Jezek, age 58, to succeed Mr. Flynn as Chief Executive Officer of the Company and elected Mr. Jezek as a member of the Board, each effective as of the same date.
View on SEC.gov
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