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

Issuer:     Offerpad Solutions Inc. (OPAD)
CIK:        0001825024
Form:       8-K
Filed at:   2024-05-23T23:59:59+00:00
Accession:  0001193125-24-145405
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Offerpad appoints Peter Knag as CFO effective June 5, 2024; terms include $500K base salary and equity awards
--------------------------------------------------------------------------------

- Peter Knag appointed CFO effective June 5, 2024, succeeding James Grout who remains SVP Finance.
- Base salary of $500,000; annual target bonus at 75% of base salary.
- RSU award of 145,000 shares vesting over 2-3 years; LTIP award tied to stock price goals ($11.25-$33.75) with 0.206% sharing rate.
- Relocation to Phoenix required by Oct 1, 2024; one-time $100,000 relocation payment.
- Employment term one year with auto-renew; severance includes 12-month base salary on qualifying termination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1825024/000119312524145405/0001193125-24-145405-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1825024/000119312524145405/d827152d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-145405

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