Patrick Kirscht - Dec 6, 2023 Form 4 Insider Report for Oportun Financial Corp (OPRT)

Role
Chief Credit Officer
Signature
/s/Kathleen Layton (Attorney-in-Fact)
Stock symbol
OPRT
Transactions as of
Dec 6, 2023
Transactions value $
$0
Form type
4
Date filed
12/8/2023, 08:14 PM
Previous filing
Sep 11, 2023
Next filing
Mar 19, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OPRT Common Stock Award +49.3K +20.3% 292K Dec 6, 2023 Direct F1, F2
holding OPRT Common Stock 2.9K Dec 6, 2023 By Child 1
holding OPRT Common Stock 2.9K Dec 6, 2023 By Child 2

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
transaction OPRT Performance Stock Units Award $0 +49.3K $0.00 49.3K Dec 6, 2023 Common Stock 49.3K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Restricted Stock Units (RSU) vest in 3 equal annual installments from the vesting commencement date of March 10, 2023, subject to the continued service of the Reporting Person on each vesting date.
F2 Each Restricted Stock Unit (RSU) and each Performance-Based RSU (PSU) represents the right to receive, at settlement, one share of common stock.
F3 PSUs will vest based on the Company's achievement of absolute total shareholder return (Company TSR). The TSR period will be the three (3) year period covering calendar years 2023 through 2025. The target number of units subject to the award is presented in the table. The performance metric will be met, and the PSUs will vest, based on percentile achievement of 0% to 125% of the target number of units, depending on performance. Any PSUs achieved above 100% of target may be paid out to the Reporting Person in either cash or shares of common stock, at the sole discretion of the Company's Compensation and Leadership Committee. In addition to such performance requirements, the PSUs are subject to satisfying service-based requirements and any PSUs that are achieved will be scheduled to vest on March 10, 2026.