James Grout - 11 Dec 2023 Form 3 Insider Report for Offerpad Solutions Inc. (OPAD)

Role
Senior Vice President, Finance
Signature
/s/ Adam Martinez, as Attorney-in-fact for James Grout
Issuer symbol
OPAD
Transactions as of
11 Dec 2023
Net transactions value
$0
Form type
3
Filing time
20 Dec 2023, 20:54:48 UTC
Next filing
05 Mar 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding OPAD Class A Common Stock 1,203 11 Dec 2023 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding OPAD Stock Option (Right to Buy) 11 Dec 2023 Class A Common Stock 8,211 $2.95 Direct F2
holding OPAD Stock Option (Right to Buy) 11 Dec 2023 Class A Common Stock 10,043 $18.56 Direct F2
holding OPAD Stock Option (Right to Buy) 11 Dec 2023 Class A Common Stock 1,506 $18.45 Direct F3
holding OPAD Performance-Based Restricted Stock Units 11 Dec 2023 Class A Common Stock 1,972 $0.000000 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Consists of 326 shares of Offerpad Solutions Inc. (the "Issuer") Class A common stock and 877 restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of Class A common stock. The RSUs vest in two equal annual installments beginning on March 1, 2024.
F2 The stock option is fully vested and exercisable.
F3 25% of the stock option vested on January 28, 2022, and the remainder vests ratably in equal quarterly installments over the following three years.
F4 Consists of performance-based restricted stock units ("PSUs"). Each PSU represents a contingent right to receive one share of the Issuer's Class A common stock. The PSUs vest based on the Issuer's stock price performance over a performance period beginning on December 31, 2022 and ending on March 1, 2025. The award will vest, if at all, based on continued service and the Issuer's stock price exceeding certain thresholds. Any portion of the award that has not been earned by March 1, 2025 will be forfeited.

Remarks:

Exhibit 24 - Power of Attorney.