---
schema_version: "secwatch.filing_event.v1"
accession: "0001538716-21-000174"
form_type: "8-K"
ticker: "OPRT"
cik: "0001538716"
company_name: "Oportun Financial Corp"
filed_at: "2021-09-01T23:59:59+00:00"
generated_at: "2026-06-29T06:27:09.815060+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# Oportun expands board to 11, appoints Roy Banks and Rick Welts as independent directors

## Summary
- Appointments effective September 1, 2021; board grew from 9 to 11 members.
- Roy Banks, CEO of Weave Communications, joins Credit Risk and Finance Committee.
- Rick Welts, former Golden State Warriors President/COO, joins Compensation and Nominating committees.
- Both receive standard director compensation: $125K prorated RSU and annual cash of $40K plus committee fees.
- Board now includes 8 of 11 members from underrepresented groups.

## SEC filing metadata
- accession: 0001538716-21-000174
- form_type: 8-K
- ticker: OPRT
- cik: 0001538716
- company_name: Oportun Financial Corp
- filed_at: 2021-09-01T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1538716/000153871621000174/0001538716-21-000174-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1538716/000153871621000174/oprt-20210831.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001538716-21-000174
- JSON: https://secwatch.observer/filing/0001538716-21-000174.json
- Plain text: https://secwatch.observer/filing/0001538716-21-000174.txt

## Key facts
- Executive change
  Roy Banks was appointed as Director at Oportun Financial Corp.
  - Action: appointed
  - Role: Director
  source text: appointed Mr. Roy Banks and Mr. Frederic (Rick) Welts to serve as members of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1538716/000153871621000174/0001538716-21-000174-index.htm
- Executive change
  Frederic (Rick) Welts was appointed as Director at Oportun Financial Corp.
  - Action: appointed
  - Role: Director
  source text: appointed Mr. Roy Banks and Mr. Frederic (Rick) Welts to serve as members of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1538716/000153871621000174/0001538716-21-000174-index.htm

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