Opendoor Technologies Inc
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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FY2023 · Filed Feb 15, 2024
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ITEM 9B. OTHER INFORMATION
Securities Trading Arrangements of Directors and Executive Officers
Rule 10b5-1 Trading Plans
The following table describes contracts, instructions or written plans for the sale or purchase of our securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement” by our directors or executive officers during the three-month period ended December 31, 2023.
| Trading Arrangement | |||||
|---|---|---|---|---|---|
| Action · Date · Rule 10b5-1 (1) · Non-Rule 10b5-1 (2) · Maximum Shares to be Sold · Expiration Date | |||||
| Eric Wu (Former Director)(3) | Terminate | 11/7/2023 | X(4) | 15,863,232 | 5/9/2024 |
(1)Intended to satisfy the affirmative defense of Rule 10b5-1(c)
(2)Not intended to satisfy the affirmative defense of Rule 10b5-1(c)
(3)Mr. Wu resigned as a member of the board of directors effective as of January 1, 2024.
(4)Because Mr. Wu’s trading arrangement was adopted prior to the effective date of the 2022 amendments to Rule 10b5-1 and Item 408(a) of Regulation S-K, the non-Rule 10b5-1 box is checked for the purpose of disclosure required under Item 408(a) of Regulation SK; provided, however, that such characterization should not be construed as an indication that Mr. Wu’s trading arrangement did not comply in all respects with the applicable requirements of the Rule 10b5-1 safe harbor in effect at the time of adoption of such trading arrangement.
Rule 10b5-1 Sell to Cover Instruction Letter
On December 15, 2023, Ms. Carrie Wheeler, Chief Executive Officer and Director, entered into a 10b5-1 Instruction Letter (the “Instructions”) with respect to all RSUs granted or to be granted to her under the Company’s equity plans or any successor plans, in order to instruct the broker(s) chosen by the Company to sell shares of common stock in order to satisfy any tax withholding obligations that arise in connection with the vesting and settlement of such RSU awards. The Instructions are intended to satisfy the affirmative defense of Rule 10b5-1(c). The aggregate number of shares to be sold under the Instructions is not determinable and there is no set expiration date for the Instructions.
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