Opendoor Announces Inducement Grant

SAN FRANCISCO, Oct. 07, 2022 (GLOBE NEWSWIRE) — Opendoor Technologies Inc. (Nasdaq: OPEN), a number one e-commerce platform for residential actual property transactions, immediately introduced it has granted an fairness award underneath its Opendoor Technologies Inc. 2022 Inducement Award Plan (the “Plan”). The Plan was accepted by Opendoor’s Board of Directors in July 2022.

In reference to the appointment of Sydney Schaub as Chief Legal Officer, Opendoor granted restricted inventory models (RSUs) to Schaub to amass an combination of 1,558,441 shares of Opendoor frequent inventory. One-third of the full variety of RSUs will vest on September 15, 2023 and thereafter one-twelfth of the full variety of RSUs will vest in quarterly installments over the subsequent eight subsequent quarters, topic to Schaub’s steady service on every vesting date. The fairness awards had been accepted by Opendoor’s Compensation Committee of the Board of Directors on October 7, 2022 and had been granted as a cloth inducement to employment, as required by Nasdaq Rule 5635(c)(4).

About Opendoor

Opendoor’s mission is to energy life’s progress, one transfer at a time. Since 2014, Opendoor has offered individuals throughout the U.S. with a easy approach to purchase and promote a house. Opendoor at present operates in a rising variety of markets nationwide. 

For extra info, please go to www.opendoor.com

Contact Information

Investors:
Elise Wang
Opendoor
[email protected]

Media:
Sheila Tran / Charles Stewart
Opendoor
[email protected]