---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-024311"
form_type: "8-K"
ticker: "OPHC"
cik: "0001288855"
company_name: "OptimumBank Holdings, Inc."
filed_at: "2022-08-29T23:59:59+00:00"
generated_at: "2026-06-23T20:01:57.908807+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# OptimumBank Holdings elects Steven Newman as director, sells 17,000 shares at $4.50 each

## Summary
- Steven Newman elected to board to fill vacancy from Heng Fai Ambrose Chan's resignation; term expires at 2023 annual meeting.
- Newman is CEO of Newman Group LLC, a real estate firm, and co-founder/chairman of Freight Factoring Specialists.
- Company sold 17,000 shares of common stock to Newman at $4.50 per share ($76,500 total) in unregistered transaction under Section 4(a)(2).
- Newman is independent under NASDAQ rules; no arrangements or related-party transactions disclosed.

## SEC filing metadata
- accession: 0001493152-22-024311
- form_type: 8-K
- ticker: OPHC
- cik: 0001288855
- company_name: OptimumBank Holdings, Inc.
- filed_at: 2022-08-29T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 5.02, 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1288855/000149315222024311/0001493152-22-024311-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1288855/000149315222024311/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-024311
- JSON: https://secwatch.observer/filing/0001493152-22-024311.json
- Plain text: https://secwatch.observer/filing/0001493152-22-024311.txt

## Key facts
- Executive change
  Steven Newman was elected as Director at OptimumBank Holdings, Inc..
  - Action: elected
  - Role: Director
  source text: On August 23, 2022, the Board of Directors of OptimumBank Holdings, Inc. (the “Company”) elected Steven Newman as a director to fill the vacancy resulting from the earlier resignation of director Heng Fai Ambrose Chan.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1288855/000149315222024311/0001493152-22-024311-index.htm
- Executive change
  Heng Fai Ambrose Chan resigned as Director at OptimumBank Holdings, Inc..
  - Action: resigned
  - Role: Director
  source text: the earlier resignation of director Heng Fai Ambrose Chan
  evidence_url: https://www.sec.gov/Archives/edgar/data/1288855/000149315222024311/0001493152-22-024311-index.htm

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