Velocity Financial, Inc.
For the period ended Dec 31, 2025. Filed Mar 12, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 12, 2026
VEL$16.71-5.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 15. Exhibits, Financial Statement Schedules
(a)
The following documents are filed as part of this Annual Report:
(1)
Financial Statements
The financial statements filed as part of this Annual Report are included in Part II, Item 8 of this Annual Report.
(2)
Financial Statement Schedules
Financial statement schedules have been omitted in this Annual Report because they are not applicable, not required under the instructions or the information requested is set forth in the financial statements or related notes thereto.
(3)
List of Exhibits required by Item 601 of Regulation S-K
| Incorporated by Reference | |||||
|---|---|---|---|---|---|
| ExhibitNumber | Exhibit Title | Form | File No. | Exhibit | Filing Date |
| 3.1 | Certificate of Conversion | 8-K | 001-39183 | 3.1 | 1/22/2020 |
| 3.2 | Restated Certificate of Incorporation of Velocity Financial, Inc. | 8-K | 001-39183 | 3 | 5/23/2022 |
| 3.3 | Amended and Restated Bylaws of Velocity Financial, Inc. | 8-K | 001-39183 | 3.2 | 3/25/2022 |
| 4.1 | Form of Stock Certificate for Common Stock | S-1 | 333-234250 | 4.1 | 10/18/2019 |
| 4.2 | Form of Warrant to Purchase Common Stock | 8-K | 001-39183 | 4.1 | 4/07/2020 |
| 4.3 | Description of the Registrant’s Securities | 10-K | 001-39183 | 4.3 | 4/07/2020 |
| 10.1 | Stockholders Agreement dated as of January 16, 2020 | 10-K | 001-39183 | 10.1 | 4/07/2020 |
| 10.2 | Registration Rights Agreement dated as of January 16, 2020 | 10-K | 001-39183 | 10.2 | 4/07/2020 |
| 10.3 | Registration Rights Agreement dated as of April 7, 2020 | 8-K | 333-234250 | 10.1 | 4/07/2020 |
| 10.4 | Securities Purchase Agreement among Velocity Financial, Inc. and the Purchasers Party thereto dated April 5, 2020 | 8-K | 001-39183 | 10.1 | 4/06/2020 |
| 10.5 | Velocity Financial, Inc. Employee Stock Purchase Plan* | DEF 14A | 001-39183 | AII | 4/8/2022 |
| 10.6 | Amended and Restated Velocity Financial, Inc. 2020 Omnibus Incentive Plan* | DEF 14A | 001-39183 | AI | 4/11/2025 |
| 10.7 | Form of Nonqualified Stock Option Award Notice and Agreement under the 2020 Omnibus Incentive Plan* | S-1/A | 333-234250 | 10.6 | 1/6/2020 |
| 10.8 | Form of Nonqualified Stock Option Award Notice and Agreement (Director Grant-IPO) under the 2020 Omnibus Incentive Plan* | S-1/A | 333-234250 | 10.7 | 1/6/2020 |
| 10.9 | Form of Nonqualified Stock Option Award Notice and Agreement (Executive Officer Grant-IPO) under the 2020 Omnibus Incentive Plan* | S-1/A | 333-234250 | 10.8 | 1/6/2020 |
| 10.10 | Form of Restricted Stock Unit Grant and Agreement (Director Grant) under the 2020 Omnibus Incentive Plan* | S-1/A | 333-234250 | 10.9 | 1/6/2020 |
| 10.11 | Form of Restricted Stock Unit Grant and Agreement (Standard Grant) under the 2020 Omnibus Incentive Plan* | S-1/A | 333-234250 | 10.10 | 1/6/2020 |
| 10.12 | Form of Restricted Stock Grant and Agreement under the 2020 Omnibus Incentive Plan* | S-1/A | 333-234250 | 10.11 | 1/6/2020 |
| 10.13 | Velocity Financial 2025 Annual Cash Incentive and Performance Stock Units Programs for Messrs. Farrar, Szczepaniak and Taylor* | 8-K | 001-39183 | - | 1/22/2025 |
| 10.14 | Form of Equity Distribution Agreement, dated May 3, 2024 | 8-K | 001-39183 | 1.1 | 5/3/2024 |
| 10.15 | Form of Amendment No. 1 to Equity Distribution Agreement, dated December 12, 2024 | 10-K | 001-39183 | 10.15 | 3/12/2025 |
| 10.16 | Form of Officer and Director Indemnity Agreement | S-1/A | 333-234250 | 10.37 | 11/6/2019 |
| 10.17 | Form of Performance Stock Unit Grant and Agreement* | 10-K | 001-39183 | 10.16 | 3/15/2024 |
| 10.18 | Note Purchase Agreement Dated as of March 15, 2022, among Velocity Financial, Inc., Velocity Commercial Capital, LLC, U.S. Bank Trust Company, National Association, as collateral agent, and the respective purchasers of the Notes. | 8-K | 001-39183 | 10.1 | 3/16/2022 |
| 10.19 | Security Agreement, dated as of March 15, 2022, among Velocity Financial, Inc., Velocity Commercial Capital, LLC and U.S. Bank Trust Company, National Association, as collateral agent. | 8-K | 001-39183 | 10.2 | 3/16/2022 |
| 10.21 | Form of Note Purchase Agreement, dated as of February 5, 2024, among Velocity Financial, Inc., Velocity Commercial Capital, LLC, U.S. Bank Trust Company, National Association, as Collateral Agent and the respective purchasers of the Notes. | 8-K | 001-39183 | 10.1 | 2/6/2024 |
| 10.22 | Security Agreement, dated as of February 5, 2024, among Velocity Financial, Inc., Velocity Commercial Capital, LLC and U.S. Bank Trust Company, National Association. | 8-K | 001-39183 | 10.2 | 2/6/2024 |
| 10.23 | Equal Priority Intercreditor Agreement, dated as of February 5, 2024, among Velocity Financial, Inc., Velocity Commercial Capital, LLC, U.S. Bank Trust Company, National Association as the 2027 Notes Collateral Agent and U.S. Bank Trust Company, National Association as the 2029 Notes Collateral Agent. | 8-K | 001-39183 | 10.3 | 2/6/2024 |
| 10.24 | Form of Amendment No. 2 to Equity Distribution Agreement, dated April 11, 2025 | 10-Q | 001-39183 | 10.24 | 5/1/2025 |
| 19.1 | Securities Trading Policy | 10-K | 001-39183 | 19.1 | 3/12/2025 |
| 21.1 | List of Subsidiaries of the Registrant | ||||
| 23.1 | Consent of RSM US LLP | ||||
| 31.1 | Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | ||||
| 31.2 | Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | ||||
| 32.1 | Certification of Principal Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002+ | ||||
| 32.2 | Certification of Principal Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002+ | ||||
| 97 | Velocity Financial, Inc. Incentive Compensation Clawback Policy* | 8-K | 001-39183 | 99 | 2/7/2024 |
| 101 | Interactive data files pursuant to Rule 405 of Regulation S-T, formatted in Inline XBRL: (i) the Consolidated Balance Sheets as of December 31, 2025 and 2024 (ii) the Consolidated Statements of Income for the years ended December 31, 2025, 2024 and 2023, (iii) the Consolidated Statements of Changes in Stockholders’ Equity for the years ended December 31, 2025, 2024 and 2023, (iv) the Consolidated Statements of Cash Flows for the years ended December 31, 2025, 2024 and 2023 and (v) the Notes to Consolidated Financial Statements. |
| 101.INS | Inline XBRL Instance Document |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document With Embedded Linkbase Documents |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
- Management contract or compensatory plan or arrangement.
- This certification is deemed not filed for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act.
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