other material
confidence high
sentiment neutral
materiality 0.40
Offerpad approves employment agreement with SVP Finance James Grout; base salary $325K
Offerpad Solutions Inc.
- Employment agreement effective March 1, 2025, for James Grout as SVP Finance.
- Base salary of $325,000 per year; annual bonus target of 50% of base salary.
- Severance: 12 months base salary upon termination without cause or non-renewal; includes COBRA coverage.
- On a change-in-control termination, severance increases to base salary plus target bonus, with equity acceleration.
- Non-compete and non-solicitation restrictions for 18 months post-employment.