secwatch.observer — SEC 8-K summary
======================================

Issuer:     Open Lending Corp (LPRO)
CIK:        0001806201
Form:       8-K
Filed at:   2022-10-06T23:59:59+00:00
Accession:  0001193125-22-258957
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Open Lending appoints Keith Jezek as CEO; co-founder Flynn becomes Chairman
---------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1806201/000119312522258957/0001193125-22-258957-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1806201/000119312522258957/d408047d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-258957

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer