Patrick Kirscht - 14 Jun 2024 Form 4 Insider Report for Oportun Financial Corp (OPRT)

Role
Chief Credit Officer
Signature
/s/Kathleen Layton (Attorney-in-Fact)
Issuer symbol
OPRT
Transactions as of
14 Jun 2024
Transactions value $
$0
Form type
4
Filing time
18 Jun 2024, 17:18:33
Previous filing
19 Mar 2024
Next filing
12 Sep 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OPRT Common Stock Award +80.7K +30.03% 350K 14 Jun 2024 Direct F1, F2
holding OPRT Common Stock 2.9K 14 Jun 2024 By Child 1 F3
holding OPRT Common Stock 2.9K 14 Jun 2024 By Child 2 F3

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 +80.7K $0.00 80.7K 14 Jun 2024 Common Stock 80.7K Direct F4, F5
* 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, 2024, subject to the continued service of the Reporting Person on each vesting date.
F2 Each RSU represents the right to receive, at settlement, one share of common stock.
F3 The Reporting Person disclaims beneficial ownership of the shares held by his child, and this report should not be deemed an admission that the Reporting Person is the beneficial owner of his child's shares for purposes of Section 16 or for any other purpose.
F4 Each Performance-Based RSU (PSU) represents the right to receive, at settlement, one share of common stock.
F5 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 2024 through 2026. 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, 2027.